Irrevocable Life Trusts (ILTS) keep the proceeds from a life
insurance policy out of your taxable estate and provide beneficiaries
with the means to pay estate taxes or replenish the assets consumed
by taxes. This avoids a distress sale of a business, a farm,
real estate or other special asset. It is frequently used where
family assets are large and illiquid. It also offers significant
long-term estate tax savings and generation-skipping tax savings
for your children and grandchildren.
