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How does a life insurance trust work?In: Life Insurance |
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Life insurance trust
A life insurance trust is used to remove the assets and death benefit of the life insurance policy out of the insured's estate for estate tax purposes. If the insured were to remain the owner of the policy, the policy procedes would be estate taxable at the time of death. This is a non-issue if your assets are less the the allowable estate tax limits.
First answer by ID0000000000. Last edit by NMihrzad. Contributor trust: 28 [recommend contributor]. Question popularity: 233 [recommend question]
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What is an insurance trust? How does life insurance work? What is a life insurance trust? How do you create a life insurance trust? Why would life insurance be put into a trust? After buying life insurance how does it work?
