Irrevocable Life Insurance Trust (ILIT)

How to ensure life insurance isn’t part of your taxable estate

If you have a life insurance policy, you may want to ensure that the benefits your family will receive after your death won’t be included in your estate. That way, the benefits won’t be subject to federal estate tax. Current exemption amounts. For 2021, the federal estate and gift tax exemption is $11.7 million ($23.4 […]

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