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 ...

A life insurance trust lets you have more control over how and when your loved ones receive the lump sum payout from your insurance when you die. You might also help reduce an inheritance tax bill ...

Ashlee is an insurance editor, journalist and business professional with an MBA and more than 17 years of hands-on experience in both business and personal finance. She is passionate about empowering ...

Editor's note: This is the first article in a series about financial and/or estate planning issues that we all should know but might be too embarrassed to ask about. First up: life insurance trusts.

With the enactment of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the 2010 Tax Act), individuals now have the ability to gift up to $5.12 million (increased ...

A trust also enables you to impose additional conditions and criteria regarding who receives the funds and when. For instance ...

Casey Bond is a seasoned personal finance writer and editor. In addition to Forbes, her work has appeared on HuffPost, Business Insider, Yahoo! Finance, MSN, The Motley Fool, U.S. News & World Report, ...

Discover how to read and understand your insurance contract with ease. Learn key terms, principles, and tips to ensure you're ...

Life insurance is an integral part of an overall financial plan. Regular reviews can determine whether the policy is performing according to expectations and meeting the client's current financial ...