So, what is a Life Insurance Trust?
A life insurance trust is an irrevocable trust where your life insurance policy is the main asset. After you are gone the assets go directly to your designated beneficiaries and are not considered part of your estate for federal tax purposes.
A life insurance trust is only one of dozens of different kinds of trusts that can save you money, provide care for someone else, and shield your spouse from unnecessary taxes, among many other purposes.
To learn more about many common trusts and why average and wealthy people use them read this trust guide How to Find the Right Trust for You
Trusts are a great tool for you to save money and prepare for you and your families future.
If you need a will or trust drafted to your specifications call 610-933-8069 and ask for David Frees or one of the lawyers at Unruh, Turner, Burke, and Frees for a telephone conference or appointment. David Frees can also be reached at [email protected]