Originally Posted by
Adlerdriver
If you're trying to be smart with life insurance, a better method is through use of an irrevocable life insurance trust (ILIT). There are significant benefits to using this estate planning tool in combination with a revocable living trust.
Variables include marital status, the current size of your estate and potential estate value in the future and how much life insurance you're carrying. If you're going to consider a living trust, it's worth asking if an ILIT is appropriate as well.
Great suggestion. Sometimes we don't realize just how much all of our "stuff" is worth. Everyone needs to be proactive and informed to protect as much as you can for your family. After all; it's what you have worked all of your life for. Make sure the right people get to keep it. Just takes a little time and effort.
With the massive changes coming in the near future, stay on top of this.