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 ...

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.

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This post has been updated as of March 28, 2024, to reflect changes to the Massachusetts estate tax exemption. There is a common misconception that life insurance benefits are not subject to estate ...

If an irrevocable life insurance trust is the owner and beneficiary of a policy you can keep the death benefit out of your estate. Having a trust as a beneficiary of a life insurance policy can also ...