when life insurance is owned by an ILIT, the proceeds from the death benefit are not part of the insured's gross estate and thus not subject to state and federal estate taxation.
The double taxation depends upon whether the trust is considered a Treuhand under German Law or not. In th... Robert Schütz*, Attorney at Law and Tax advisor - 《Trusts & Trustees》 被引量: 0发表: 2008年 "The GST treatment of bare trusts" In commercial structures legal title to assets...
However, when the grantor dies, the revocable trust becomes irrevocable and cannot be changed. These trusts are designed to terminate upon the grantor’s death, at which time, the assets are distributed to beneficiaries. Those assets are valued as of the grantor’s death date. There are no p...
Thornton, ClaireJournal of Financial Planning
corporation, some extra planning steps may be required in transferring the policy to the Trust. It is not too hard to conjure up situations in which one takes an asset out of someone's gross estate and, at the same time, subjects the proceeds to income taxation as a "transfer for value...