Life insurance is included in the taxable estate typically. A trust is a great way to remove the value of life insurance from the estate. But, there are two potential traps in this as discussed by my friend and colleague Steve Hartnett, an estate planning expert in this artcle.
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
Latest posts by Timothy P. Murphy (see all)
- Just When You Thought You Understood the 10-Year Rule, Think Again - May 21, 2022
- Let’s Talk about Trusts…and Taxation - May 17, 2022
- What Estate of Marion Levine Means for Life Insurance - May 15, 2022
