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2. Life insurance trust - Wikipedia

   en.wikipedia.org/wiki/Life_insurance_trust

   A life insurance trust is an irrevocable, non-amendable trust which is both the owner and beneficiary of one or more life insurance policies. [1] Upon the death of the insured, the trustee invests the insurance proceeds and administers the trust for one or more beneficiaries.

3. If you want to help your kids bypass probate when you die ...

   www.aol.com/finance/want-help-kids-bypass...

   Life insurance. No need to put this in a revocable trust. Simply name your beneficiaries within the policy. Or, create an irrevocable life insurance trust (ILIT) to avoid estate taxes.

4. Life insurance - Wikipedia

   en.wikipedia.org/wiki/Life_insurance

   Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.

5. Survivorship life insurance - AOL

   www.aol.com/finance/survivorship-life-insurance...

   Many survivorship policies come under the ownership of an irrevocable trust, also known as an irrevocable life insurance trust—ILIT. Because the primary purpose of the policy centers on ...

6. Estate planning - Wikipedia

   en.wikipedia.org/wiki/Estate_planning

   Because life insurance proceeds generally are not taxed for U.S. Federal income tax purposes, a life insurance trust could be used to pay estate taxes. However, if the decedent holds any incidents of ownership like the ability to remove or change a beneficiary, the proceeds will be treated as part of decedent's estate and generally will be ...

7. Do You Pay Taxes on Life Insurance? - AOL

   www.aol.com/pay-taxes-life-insurance-144951266.html

   Owning a life insurance policy can be an effective way to ensure that your loved ones are provided for if you die prematurely, and it can also play an important role in estate planning. But do you ...