Why do I need an Irrevocable Life Insurance Trust

What is an irrevocable life insurance trust? It’s a special kind of trust that is irrevocable,
which means just that. Once you put something in it you can’t take
it back. The reason a client would need an irrevocable
life insurance trust is to make sure that the death benefit on their life insurance
policy is received by this trust and therefore not taxed by the estate tax upon their passing.

Leave a Reply