Sorry, SOLI; Good-Bye ILITs?
- Irrevocable Life Insurance Trusts. Sobczak, Carol A.; Robbins, Lawrence A. // Franchising World;Sep/Oct96, Vol. 28 Issue 5, p46
Discusses various aspects of irrevocable life insurance trust. How the trust works; Tax savings; Disadvantages; Persons who can act as trustees.
- Irrevocable Trusts and Life Insurance: They Stand the Test of Time, Part II. Duff, Richard W. // Journal of Financial Planning;Aug1999, Vol. 12 Issue 7, p34
Part II. Provides information on irrevocable life insurance trusts (ILIT). Benefits of ILIT; Details on the creative legal drafting for the beneficiaries; Importance of planning and ILIT-owned policy on wealth preservation.
- Transferring Life Insurance To and From ILITs. Gallo, Jon // Journal of Financial Planning;Aug2006, Vol. 19 Issue 8, p38
The article focuses on the process of transferring life insurance to and from irrevocable life insurance trusts (ILITs), because those insured by ILIT frequently request changes of trustees. Internal Revenue Code Section 2035(a) is explained, as well as a relevant decision regarding trust...
- The Survivorship Spousal ILIT. Jones, Lawrence T. // Advisor Today;Feb2000, Vol. 95 Issue 2, p42
Describes an estate planning tool called irrevocable life insurance trust (ILIT). Reason for the popularity of a Survivorship ILIT; How to design and create a Survivorship Spousal ILIT; Goals that can be accomplished by a properly drafted Survivorship Spousal ILIT.
- Life Insurance Options, and What Lies in the Shadows. Katt, Peter C. // Journal of Financial Planning;Nov2011, Vol. 24 Issue 11, p32
The article presents the case of seniors Doug and Helen, who decided to purchase a life insurance worth 50 million dollars. It mentions that both of them have encountered several problems including the ability and experience of Marty, college roommate of Doug, to implement the program. It notes...
- The `revocable-irrevocable' life insurance trust. Kassimir, Maurice R.; Maisel, Melvin L. // CPA Journal;Sep95, Vol. 65 Issue 9, p50
Offers advice on how to provide irrevocable trusts with the flexibility of revocable trusts. Benefits of irrevocable life-insurance trusts (ILIT); Use of survivor life insurance in ILIT; ILIT drawbacks; Funding of trust with life insurance carried in a profit sharing plan; Benefits of using the...
- Private Split-Dollar vs. Private Financing. Crino, Cynthia A. // National Underwriter / Life & Health Financial Services;2/12/2007, Vol. 111 Issue 6, p16
The article presents a comparison between private split-dollar (PSD) and private financing approach in funding a policy for an irrevocable life insurance trust (ILIT) in the U.S. PSD plan uses a non-equity collateral assignment agreement, while private financing is a fair market loan arrangement...
- THE SPOUSAL ACCESS IRREVOCABLE LIFE INSURANCE TRUST FUNDED WITH A SECOND-TO-DIE POLICY. McCullough, Scott M. // Probate & Property;May/Jun2009, Vol. 23 Issue 3, p61
The article presents information on spousal access trusts (SAT) as well as the irrevocable life insurance trust (ILIT) funded with a second-to-die policy. It informs that the SAT can be used to solve the high cost of individual life insurance policies and lack of flexibility in a traditional...
- Use caution when it comes to backdating policies. Shuntich, Louis S. // Life Insurance Selling;Sep2012, Vol. 87 Issue 9, p72
The article reports on the development the practice of backdating policies to keep down the cost of coverage in the U.S. It notes that the insurance proceeds should not be included in a decedent insured's estate if the policy is purchased and owned by a third party, such as an irrevocable life...