Life Insurance Planning & Irrevocable Trusts
Taking Care of Your Family Today & in the Future
Life insurance trusts are an excellent estate planning tool for clients that do not anticipate incurring a significant estate tax liability. They can provide the immediate funds necessary to pay for estate administration expenses or debts, fund charitable bequests, or to simply provide your family with a tax-free inheritance.
There are two ways to approach your life insurance planning, and they include:
- Unfunded Annually Gift-Supported Irrevocable Life Insurance Crummey Trust- One of the more advanced options available that is designed to pass property to beneficiaries free of both gift and estate taxes.
- Irrevocable Life Insurance Trust (ILIT)- The more common solution wherein a trust is set up for beneficiaries to receive a significant amount after the Grantor’s passing through a vehicle that is exempt from estate tax
Discover which option is best for you by getting in touch with our skilled life insurance planning attorneys at Castro & Co. It is never too early to begin planning for the future. We have offices in Washington DC, Miami, Dallas, and Orlando, and we represent clients around the world.
Give us a call at (833) 227-8761 to get started with a free consultation!
Creating a Seamless Plan for Your Specific Needs
Castro & Co. has been helping countless families for years navigate the complexities of creating a sound and legally binding life insurance plan. As your estate planning partner, you can trust that we have the experience and qualifications to properly draft a life insurance plan that best suits all your legal needs.
We take the time to listen to your goals and educate you on the different options available to you in an effort to help you make informed decisions about how life insurance can enhance your estate plan. Our life insurance planning attorneys are also committed to doing everything they can to ensure that any life insurance utilized in your estate plan stays up to date allowing collection by your family to be a seamless process.
Call now at (833) 227-8761 to schedule a free initial consultation.