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How Irrevocable Life Insurance Trusts Reduce Estate Tax | Learn About Law

How Irrevocable Life Insurance Trusts Reduce Estate Tax | Learn About Law

Released Friday, 22nd February 2019
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How Irrevocable Life Insurance Trusts Reduce Estate Tax | Learn About Law

How Irrevocable Life Insurance Trusts Reduce Estate Tax | Learn About Law

How Irrevocable Life Insurance Trusts Reduce Estate Tax | Learn About Law

How Irrevocable Life Insurance Trusts Reduce Estate Tax | Learn About Law

Friday, 22nd February 2019
Good episode? Give it some love!
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In this video, we will explain Irrevocable Life Insurance Trusts (“ILITs”) for Illinois Estate Tax Planning.  We will answer the questions: “what is an ILIT?,” “are life insurance proceeds subject to estate tax?,” “what are ‘incidents of ownership’ of a life insurance policy?,” and “should I transfer an existing life insurance policy to an ILIT?”  We will also explain how to reduce estate tax with an ILIT, ILITs and gift tax, ILITs as leveraged gifts, Irrevocable Life Insurance Trusts and the three year rule, and Second to Die Insurance in the context of irrevocable trusts.  https://www.oflaherty-law.com/learn-about-law/irrevocable-life-insurance-trusts-explained-illinois-ilits-for-estate-tax-planningHave any questions that weren't answered here? Let us know in the comment section!Subscribe to BLTV for daily Learn About Law videos: www.youtube.com/channel/UCY4QhGg-zwgUIthoK3EdyjAIf you are in the Northern Illinois area, and would like to make an appointment with an attorney, O’Flaherty Law would be happy to help. If you would like to schedule a free consultation or receive paid legal advice, go to: www.oflaherty-law.com/downers-grove-…e-consultationOr call our office directly at (630) 324-6666.Learn About Law is part of the Business Lounge Network, offering convenient and affordable office space in the Chicagoland area. Escape the noise of a crowded office or home and instead work in our professional and calm environment built to suit your business needs. For news on free events, membership offers and more, visit www.BusinessLoungeNetwork.com.Do you have marketing, editing or audio/video production needs for your business, podcast or website? Want to be a part of the BLTV network? Let us know what we can do for you by calling us at 630-324-6666 or by emailing us at [email protected] the Learn About Law article: www.oflaherty-law.com/learn-about-la…-guardianshipsMore Learn About Law videos, podcasts, and articles: www.learn-about-law.comLearn More about O'Flaherty Law: www.oflaherty-law.comLike us on Facebook for daily videos: www.facebook.com/oflahertylaw/O'Flaherty Law has convenient offices located in Downers Grove, Elmhurst, Naperville, Tinley Park, St. Charles, and Lake in the Hills, Illinois, serving DuPage County, Will County, Cook County, Lake County and McHenry County. Its attorneys focus on providing quality legal work, above-and-beyond customer service, and affordable rates in the following practice areas: divorce & family law; estate Planning, wills & trusts; probate & estate administration; litigation, civil law & dispute resolution; business representation & corporate law; guardianship, elder law & special needs law; residential & commercial real estate law; immigration; bankruptcy; and DUI law and traffic & criminal defense.O'Flaherty Law is proud to offer a free initial consultation in most areas of law. The free consultation will provide general answers on what we can do for you regarding a legal matter, specifics on what services we provide, and brief explanations on what your options for legal service may be. A free consultation does not include free legal advice or answers to specific legal questions relating to your matter. Free consultations last no longer than 30 minutes, but a full 30 minute consultation may not always be required.None of the content in this series is intended as paid legal advice.Subscribe to our channel for daily videos dedicated to law and business. https://www.youtube.com/channel/UCY4QhGg-zwgUIthoK3EdyjAThis video was produced by Business Lounge Marketing. If you need marketing, web development, or digital production, The Business Lounge is happy to help. Let us help you and your business dive in to the digital age with Business Lounge Marketing. You can email us at [email protected] or call David at 630-240-1813
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