Pennsylvania estate planning attorney David Frees discusses, in this powerful video, two important strategies concerning irrevocable life insurance trusts (ILIT). The last thing you want is not to have enough life insurance for your heirs and for their inheritance not to be properly protected. Many people wonder how much life insurance they should have. There is no one way to determine the amount you will need, but you must consider how much you make and what the needs of your heirs will be. For instance, if you make $150,000 per year, you might need millions of dollars to offset the needs of your heirs, especially if your children are planning on going to college. The two most important factors that you need to consider when purchasing life insurance is making sure you buy the right amount and protecting your heirs by setting up an irrevocable life insurance trust. In effect, a well-designed ILIT can double the value for your children and your heirs. At the law firm of Unruh, Burke & Frees, we can help you set up an irrevocable life insurance trust and protect your family. Contact an experienced Pennsylvania estate planning attorney at one of our offices located throughout Pennsylvania. To find out more about protecting your inheritance, you can order a free copy of the informative guide, Enhanced Estate Planning: What You Need to Know About Hiring An Attorney & Creating A Plan That Works.
David M. Frees, III
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Attorney, Speaker and Author