|Irrevocable Life Insurance Trusts|
Life insurance is a unique asset that can meet diverse objectives. It can provide liquidity to pay taxes, replace income after a death, create wealth to build an estate, pay estate settlement costs, pay off a mortgage, or buy out a business interest. Life insurance proceeds are received income tax free, but if your estate (including insurance) is greater than the applicable exemption amount (unified credit), insurance proceeds will be subject to estate taxes at the current rate of 35% (2011 and 2012).
In addition to Irrevocable Life Insurance Trusts Davis Schilken, PC provides advanced estate planning advice in the following areas:
For information on how to get started on your estate plan visit our Estate Planning Process page.