This resource helps estate-planning attorneys structure and draft irrevocable life insurance trusts and includes 16 forms that can be tailored to clients’ needs.
This essential estate planning resource provides 16 forms for drafting irrevocable life insurance trusts, fully editable to fit your clients’ individual needs. The forms are tailored to fit the following circumstances: grantor's marital status, exemption from the generation-skipping transfer (GST) tax, when a single fund trust for the children is involved, the inclusion of so-called “hanging” powers, and whether the trust owns second-to-die life insurance on the lives of both the grantor and the spouse or only on the life of the grantor. The authors also summarize and explain provisions unique to irrevocable life insurance trusts, including policies and premiums, lifetime trusts, special withdrawal rights, disposition of proceeds, divorce, and limits on distribution.
Afton L. Gauron and Samantha M. Contreras, Croke Fairchild Duarte & Beres LLC, Chicago
Chapter 1 — Introduction and Explanation of Common Provisions
Chapter 2 — Insurance Trusts with No Hanging Powers
Chapter 3 — Insurance Trusts with Hanging Powers (No Generation-Skipping Planning)
Chapter 4 — Insurance Trusts with Generation-Skipping Planning
