Uses of Trusts in Estate Planning - Stewart McKelvey
Uses of Trusts in Estate Planning - Stewart McKelvey
Uses of Trusts in Estate Planning - Stewart McKelvey
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Insurance <strong>Trusts</strong><br />
• A form <strong>of</strong> testamentary trust funded with the<br />
proceeds <strong>of</strong> an <strong>in</strong>surance policy payable on<br />
death <strong>of</strong> the testator<br />
• Executor and trustee <strong>of</strong> the will is designated as<br />
beneficiary <strong>in</strong> the will “<strong>in</strong> trust”<br />
• Terms <strong>of</strong> trust can either mirror the terms <strong>of</strong><br />
testamentary trusts for spouse, children or other<br />
beneficiaries <strong>in</strong> the will or can have different<br />
terms (to further enhance <strong>in</strong>come splitt<strong>in</strong>g<br />
opportunities)