Sentences with phrase «mention irrevocable trusts»
Not exact matches
If the policy is instead owned by an irrevocable trust as mentioned above, there is no inclusion in the gross estate, and there is an embedded mechanism via the trust language for continuation of the policy if the insured becomes incompetent.
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As we mentioned before, an irrevocable life insurance trust or «ILIT» is separate from your estate, and it controlled by a trust / trustee.