Irrevocable Life Insurance Trust (ILIT) Protects Assets
An ILIT is Protected from Creditors One of the great benefits of an ILIT is the protection it provides from creditors. When a person dies, commonly there are debts owed ...
An ILIT is Protected from Creditors One of the great benefits of an ILIT is the protection it provides from creditors. When a person dies, commonly there are debts owed ...
ILIT’s There basically two types of ILITs. One is a single life insurance trust. This trust is designed to insure the life of one person. The other type is a ...
A Common Misconception Parents commonly assume naming a married couple to be guardians of their children is a good choice. You may have a sister and brother-in-law who are great ...
Choosing a Guardian is Not an Easy Decision Choosing a guardian for your children in case something happens to you and your spouse is an important decision which should be ...
Saving for College as Part of Your Estate Plan Each state offers its own program and most programs are available to residents of any state. So a resident of Illinois ...
Consider All Your Options Many parents and grandparents set up a trust to provide for their children’s or grandchildren’s education. Such trusts typically provide instructions to the trustee to preserve ...
Don’t Give What You Don’t Have If you leave beneficiaries specific dollar amounts in your will or trust documents, you may be creating a situation where the estate cannot afford ...
Life Estate Protects Loved One When a person gives a life estate to a beneficiary, the beneficiary is entitled to possess and occupy property (usually real estate) for the length ...
Trust Instructions It is tempting when creating an estate plan to try to plan for the future by setting specific instructions for preserving assets. For example a trust may give ...
Restrictions in Estate Planning It’s a fairly common movie theme: a child is required to get married before he can receive his huge inheritance. The parents write something in their ...