FREE ACCESS TO OUR SPECIAL REPORTSThese reports are published by the American Academy of Estate Planning Attorneys and cover a wide-variety of subjects relating to estate planning.
|
Irrevocable Life Insurance Trusts (“ILITS”) - The Ultimate Gifting Strategy
An Irrevocable Life Insurance Trust (an "ILIT") is the ultimate gifting strategy because nothing will grow more on the date of an individuals death than his or her life insurance policy. Gifts to an ILIT can easily be funded with the grantors $12,000 / $24,000 annual gift tax exclusion; and the insurance proceeds can eventually be used to pay the grantors estate taxes, thereby using "discounted" dollars to pay those taxes. As explained below, the ILIT will include "Crummy" withdrawal powers, so that gifts to the ILIT will qualify for the $12,000 / $24,000 annual gift tax exclusion.
BACK TO SPECIAL REPORTSThis Report is Compliments of
The Law Offices of Barton P. Levine
. If you would like a hardcopy of this report please email
info@bartonlevine.com
or call
(888) 268-4425
.
SHARE
PRINT