Five Ways that an ILIT can Turbo-Charge your Estate Plan

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What is an irrevocable life insurance trust (“ILIT”) and why would it be useful to me? In this article, attorney John Martin explores the upsides and downsides of the “ILIT.” The author concludes that an ILIT is both a cost-effective and powerful tool for providing liquidity, paying estate tax, avoiding Generation Skipping Transfer Tax (GSTT), protecting beneficiaries from creditors, and for business owners, keeping a business in the family.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© The Law Offices of John C. Martin | Attorney Advertising

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