News & Insights
Trusts
How trusts work alongside life insurance: revocable versus irrevocable, the three-year rule on transferred policies, and what a trust does and does not protect.
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Living trust or will: what each one actually does
The Florida Bar puts it plainly: revocable trusts are often credited with saving estate taxes, and that is not accurate. Here is what a trust does do, and what it costs to do it.
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What an irrevocable life insurance trust does, and the three-year rule that undoes it
An ILIT keeps the death benefit out of the taxable estate by making sure the insured never owns the policy. Section 2035 reaches back three years for anyone who transfers one in.
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