Chicago, IL (PRWEB) October 21, 2014
YourLifeSolution.com, a service which permits consumers to immediately generate contending life insurance coverage prices estimate from numerous providers, is today releasing the major benefits of forming an irreversible life insurance coverage trust. “An irrevocable life insurance trust is basically a separate entity that can own and be the recipient of an irreversible life insurance coverage or term life insurance coverage policy. Upon death of the insured, funds are paid to the ILIT and prevent estate taxes and probate. This is possible so long as the insured does not have control of the trust and it is truly irrevocable therefore long as the IRS’ ‘3 year rule’ has actually been satisfied. So long as everything is in area a minimum of 3 years prior to the insured passes away, survivor benefit should be moved without any estate taxes or income taxes payable”, said Eric Smith, the creator of YourLifeSolution.com.
. Benefits of an Irrevocable Life Insurance coverage Trust According to YourLifeSolution.com .-reduces estate taxes .-streamlined inheritance planning .-makes business succession more structured .-safeguards funds from bad planning choices by grantor .-does not eat present tax exemption .-almost non-existent management expense
. A few of the advantages of an irrevocable life insurance coverage trust can be viewed right here: . http://www.dummies.com/how-to/content/avoiding-estate-taxes-with-an-irrevocable-life-ins.html!.?.! YourLifeSolution.com welcomes all adults to see their own life insurance rates online within the website’s homepage. Consumers can also get details by phone directly from Eric Smith by calling 888.374.2764. . . . . .
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