Transferring an Existing Policy to a Life Insurance Trust
If an existing insurance policy is transferred to a trust (or TOLI), the proceeds will be included in the insured’s ... Read More
What not to do when Utilizing Two Life Insurance Trusts to Benefit the other Spouse
Married persons sometimes want to set up two TOLIs: one created by the husband for the benefit of his wife ... Read More
How to Ensure that the Death Benefit will not be Included in the Insured’s Taxable Estate (Part II)
Generally, an insured cannot be the trustee or co-trustee of a TOLI because it usually results in an incident of ... Read More
How to Ensure that the Death Benefit will not be Included in the Insured’s Taxable Estate (Part I)
First, no beneficiary of a TOLI should be a settlor. If a beneficiary contributes property to a TOLI, the beneficiary ... Read More