How sharp is your life insurance trust planning saw?
As a financial professional, you help clients select the appropriate life insurance policy to achieve planning goals. Put yourself in a better position to assist by having an understanding of the various types of life insurance trusts and the ability to communicate them in simple terms. Here are three trust strategies to know:
| Client goals | Trust strategy |
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| Reduce estate tax exposure and create tax-free liquidity |
Irrevocable Life Insurance trust (ILIT) |
| Reduce estate tax exposure, create tax-free liquidity and allow lifetime access to life insurance cash value |
Spousal Lifetime Access Trust (SLAT) |
| Reduce estate tax exposure, create tax-free liquidity, allow lifetime access to life insurance cash value and enable grantor to swap assets in and out of trust during lifetime |
Intentionally Defective Grantor Trust (IDGT) |
We also have three complimentary single-page concept flyers designed to provide general education and more importantly, to keep the conversation going with clients and prospects. Start using them now!
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