In an ILIT, the grantor or creator of the trust cannot change the terms or beneficiaries of the trust, just like any irrevocable trust. However, grantors may place one or more life insurance policies ...

Should you name your living trust as the beneficiary of your life insurance policy? Is it better to name specific individuals as direct beneficiaries? This decision can have significant implications ...

Putting everything you own into a living trust can feel like the safest way to help your kids skip probate, but some assets are actually designed to bypass the court system without ever touching a ...

Life insurance trusts, particularly irrevocable life insurance trusts (ILITs), can minimize estate taxes and protect your heir's inheritance. By Marguerite Weese, JD, LL.M.

This post has been updated as of March 28, 2024, to reflect changes to the Massachusetts estate tax exemption. There is a common misconception that life insurance benefits are not subject to estate ...

Parents who want their kids to bypass probate often hear that a revocable living trust is the gold standard, but not every asset belongs inside one. Some accounts and policies already have built-in ...

How does it work? What is the purpose of a revocable living trust? The primary role of this type of trust is to provide a comprehensive framework for managing and distributing assets, both during the ...

This article adheres to strict editorial standards. Some or all links may be monetized. If you will, allow us to present the hypothetical case of Pete Moneywise, a married, 78-year-old father of three ...