Description
Learn about different tax treatments of irrevocable life insurance trusts, and which is best given certain circumstances.
By attending this presentation on Life Insurance Trusts (ILITs), participants can expect to gain a comprehensive understanding of the critical components involved in establishing and managing these trusts. This knowledge will empower attendees with the ability to make informed decisions when it comes to their estate planning and financial future. Specifically, attendees will learn how to structure an ILIT, the tax implications of transferring assets to it, and the intricacies of administering the trust. Moreover, the presentation will provide insights into handling special considerations like special needs beneficiaries and addressing changes in goals over time. Understanding ILITs is vital for anyone looking to protect their wealth, minimize tax liabilities, and ensure the financial security of their loved ones. Whether youre a seasoned attorney or just beginning to explore estate planning options, this presentation offers valuable insights that can significantly impact your financial wellbeing and legacy planning.
Date: 2023-12-04 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define what an irrevocable life insurance trust is and how it can benefit your clients.
* You will be able to describe how an irrevocable life insurance trust can last for several generations.
* You will be able to discuss the different tax treatments of irrevocable life insurance trusts, and which is best given certain circumstances.
* You will be able to recognize situations where an irrevocable life insurance trust may be an appropriate tax and estate planning tool.