Category Inheritance Tax
Avoiding Estate and Gift Taxes with Life Insurance Trusts
by Bryan Lane Berson, Esq. Contrary to what many people think, the proceeds of life insurance policies are not tax free. That does not necessarily mean that an estate will have to pay tax on the proceeds though. An irrevocable life insurance trust (ILIT) is a useful estate planning tool to reduce tax liabilities. ILITs […]
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