Trusts Estates

Life Insurance Trusts - Alive or Dead?

Wednesday, July 15, 2009 by James R. Modrall

Life is not certain and neither are ILITs. Great care should be taken in the administration of the trust, changes in policies, and the provisions of the trust relating to changing trustees. Banks and trust companies are now more willing to act as trustees, which provides some assurance that the formalities of administration and Crummey letters would be observed. Existing ILITs should be reviewed periodically by experienced attorneys, not just at the behest of an insurance advisor or agent.... Read More

Posted at 14:16 PM | PERMALINK

Topic: Trusts and Estates

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