IRREVOCABLE LIFE INSURANCE TRUSTS (ILITS): LEVERAGING LIFE INSURANCE FOR ESTATE PLANNING
Gabriel Katzner - December 7, 2023 - Trust Administration
Mark, a single parent of two daughters aged 9 and 11, has an estate valued at $17 million and plans to purchase a life insurance policy with a $5 million death benefit. Mark’s estate is currently valued at $22 million, which is over the federal estate tax exemption maximum and, therefore, would incur estate taxes. […]
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