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​​​​© 2020 by Lara Sass & Associates, PLLC 

 

The information contained on this website is provided for informational purposes only and should not be construed as legal advice on any subject matter.  If you wish to discuss the topics addressed on this website, or other estate planning issues, please contact Lara Sass & Associates, PLLC.

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March 14, 2016

In order for life insurance to be an effective estate planning tool, it should be owned by an irrevocable life insurance trust (commonly referred to as an “ILIT”), not by the insured or the insured's spouse.  If a life insurance policy is owned by an ILIT, the entire p...

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