Tag Archives: life insurance trusts

Post Mortem Estate & Income Tax Planning

Posted on April 13, 2011 by David L. Silverman, J.D., LL.M. (Taxation)

View outline: Post Mortem Estate & Income Tax Planning Post Mortem Estate and Income Tax Planning Outline Post Mortem Estate & Income Tax Planning © 2011 David L. Silverman, J.D., LL.M. (Taxation) Law Offices of David L. Silverman 2001 Marcus … Continue reading →

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Life Insurance Trusts

Posted on March 26, 2010 by David L. Silverman, J.D., LL.M. (Taxation)

Life insurance trusts have long assumed a position of importance in estate planning, especially for larger estates, since insurance proceeds may be excluded from the settlor’s gross estate, thereby reducing or eliminating estate taxes. These tax savings may be achieved if the trust is drafted to authorize (but not require) the trustee to purchase assets from, or loan money to, the estate. Continue reading →

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Life Insurance Trusts

Posted on March 15, 2010 by David L. Silverman, J.D., LL.M. (Taxation)

Life insurance can be an invaluable estate planning tool. It can provide a broad measure of financial security for loved ones as well as provide the liquidity necessary to meet tax and other estate settlement obligations. Ownership of a life … Continue reading →

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Irrevocable Life Insurance Trusts (ILITs)

Posted on March 15, 2010 by David L. Silverman, J.D., LL.M. (Taxation)

Life insurance proceeds are excludible from beneficiaries’ income under §101, provided the policy had not been transferred for valuable consideration. Proceeds from policies transferred in trust will also be excluded from the insured’s gross estate provided the insured (i) retained … Continue reading →

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