Life insurance is unique among types of insurance in that it insures against an event (death) that will occur as opposed to an event that may occur. But, although death is a certainty, individuals buy life insurance to hedge against the time when...
Now more than ever, trustees, and in particular, corporate trustees, face administrative issues that arise in relation to an irrevocable life insurance trust (ILIT), in which the primary asset is one or more policies of life insurance on the...
Last year, a ruling by the Indiana Court of Appeals, In Re Stuart Cochran Irrevocable Trust,1 sent a shot-across-the-bow warning to trustees trying to navigate the changing irrevocable life insurance trust (ILIT) environment. In ruling for the...
The estate and generation-skipping transfer (GST) tax will reappear in 2011. For some insureds and the trustees of their irrevocable life insurance trusts (ILITs), the reinstatement of the estate and GST tax laws in 2011 should have little impact...
The world of life insurance presents what feels like a never-ending array of products and choices. One of these emerging product structures, indexed universal life insurance (indexed UL), may be heavily marketed to your high-net-worth clients...
Once issued, a life insurance policy can remain in effect for decades. During this time, the original owner's goal and objectives may have changed, or a need for additional insurance or changes to the policy may have arisen. Too often...
