Life Insurance Trusts

Without the benefit of planning ahead, many families have to sort out considerable expenses while mourning the passing of a loved one. One way to help your family avoid the burdens of unexpected taxes and expenses is to establish an irrevocable life insurance trust as part of your estate planning.

This type of trust owns and manages a life insurance policy. An existing policy may be transferred to the trust, or gifts may be made to the trust to allow the trustee to pay the policy premiums. After the death of the insured person, the trustee manages the life insurance policy proceeds according to the trust documentation. An irrevocable life insurance trust keeps policy proceeds out of the taxable estate; disburses proceeds to beneficiaries as directed; ensures the policy proceeds are income-tax free to beneficiaries; and may use proceeds to pay any taxes, legal fees, or other liabilities.

Please contact our office to discuss how irrevocable life insurance trusts can best be used as part of your estate planning or to review your current trust.

Need help or have a question about a comprehensive estate plan?
Give us a call at 623-561-2323 to start planning today!

Too late to call? Contact us night or day via the form below!

We know questions can arise at any time. Don’t wait to ask your question, use the form below to ask your question and one of our knowledgeable staff will contact you with the answer you need.

  • Which service/s would you like to discuss?