In an ILIT, the grantor or creator of the trust cannot change the terms or beneficiaries of the trust, just like any irrevocable trust. However, grantors may place one or more life insurance policies ...

Should you name your living trust as the beneficiary of your life insurance policy? Is it better to name specific individuals as direct beneficiaries? This decision can have significant implications ...

For those individuals looking to create an inheritance, it may be more appealing for the insurance to pay into a trust rather than directly to the beneficiary. This allows the grantor to us the ...

Putting everything you own into a living trust can feel like the safest way to help your kids skip probate, but some assets are actually designed to bypass the court system without ever touching a ...

A living trust allows you to avoid the probate process. Unlike a will, the public record doesn't include information about a living trust. Living trusts can be changed or revoked entirely while you're ...

This article adheres to strict editorial standards. Some or all links may be monetized. If you will, allow us to present the hypothetical case of Pete Moneywise, a married, 78-year-old father of three ...

This post has been updated as of March 28, 2024, to reflect changes to the Massachusetts estate tax exemption. There is a common misconception that life insurance benefits are not subject to estate ...