How To Set Up A Trust For Life Insurance Policy?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    To set up a trust for a life insurance policy, you should consult both a life insurance professional and an estate planning attorney or CPA. An irrevocable life insurance trust (ILIT) must be set up properly in order to avoid estate taxes, and if it is not set up properly, it is very difficult or impossible to change.
    Answered on December 30, 2013
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