On Demand Audio

All About Irrevocable Life Insurance Trusts

(820 reviews)

Produced on September 13, 2016

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$ 59 Wills, Trusts, & Estates In Stock
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Course Information

Time 61 minutes
Difficulty Intermediate

Course Description

Notwithstanding the increased federal (and, in some cases, state) estate tax exemptions, irrevocable life insurance trusts continue to be a fundamental and frequently used estate planning tool. Properly structured, irrevocable life insurance trusts allow life insurance death benefits to pass free of estate tax.

This presentation, led by attorney Jed Albert, discusses the gift, estate, generation skipping transfer and income tax issues relating to the creation and maintenance of irrevocable life insurance trusts. It also provides the participant with a roadmap that can be used to minimize the impact of those taxes. 



Learning Objectives:
  1. Identify and understand the federal gift, estate, generation skipping transfer, and income tax statutes and regulations that impact irrevocable life insurance trusts
  2. Understand the applicable case law that impacts irrevocable life insurance trusts
  3. Explore drafting techniques that allow the practitioner to navigate the above in order to obtain a tool that maximizes the transmission of wealth to future generations by avoiding the impact of said taxes

Credit Information

This course is pre-approved for CLE credit in the following states. If your state is not listed, contact support for more information on how to receive credit

Lawline reports attorney attendance in select states. View more about CLE reporting .

Faculty

Jed Albert

Farrell Fritz, P.C.

Since 1987, Mr. Albert has represented individuals and fiduciaries with respect to complex estate planning (including gift, estate and generation-skipping transfer tax planning), charitable giving, business succession planning and trust and estate administration.



Reviews

AR
Arthur R.

Very good presentation

VC
Vincent C.

Very nicely done

MS
Michael S.

Excellent

PM
Patricia Anne M.

Would love to see more courses from Mr. Albert!

MW
Michael W.

Excellent explanations

BL
Brian L.

Fantastic CLE!

BS
Beth S.

This is an important topic in family law that comes up from time to time in the areas of policy that I work on. The course was a useful refresher/overview.

TW
Tracy W.

Excellent speaker!

JA
James A.

he was great in his presentation

TD
Tom D.

Excellent.

AP
Adam P.

Excellent, informative and engaging.

CB
Candace B.

This course was excellent to provide information on the nature and purpose of irrevocable life insurance trusts.

WH
William H.

Very practical information for a practitioner or even someone who wants to be a very informed consumer that doesn't practice in this area.

LW
Linus W.

the presenter knows his stuff

MP
Matthew P.

One of the better lecturers I've seen.

GP
Gregory P.

Thank you.

GT
Georgia T.

Excellent

LL
Linda L.

Substantial information

AG
Arthur G.

very good presentation

MW
Michael W.

Great course

SG
Stephanie G.

Excellent presentation of information. Presenter was well informed and conveyed information with clarity and was succinct. Covered many scenarios and provided good examples of various situations that could occur.

PG
Paul G.

Excellent summary of complicated area

GD
Ginny D.

Terrific presentation! Information on right of withdrawal was helpful.

TR
Travis R.

This was excellent and provided super-relevant, practical, useful information.

PH
paul h.

Great information. Now I will go back and listen again.

RW
Rich W.

Interesting and informative

AW
Allan A. W.

Clear and concise explanation and understanding.

AF
Amy F.

I was looking for a primer on ILIT and this is exactly what I needed.

WM
Wendy M.

Extremely helpful.

DO
David O.

The lecturer was very informative and I found his discussion of income tax issues and generation skipping tax issues helpful. Also the Turner case information regarding Crummey Letters and payment of premiums directly to the insurance company was also helpful.

WA
Whitney A.

Great presentation

CK
Cathy K.

Excellent. Best presentation on Lawline

JB
Julie A. B.

Well-paced program spearheaded by a talented and knowledgeable speaker familiar with the nuances of irrevocable life insurance trusts. Albert supplies a roadmap that participants can use to successfully navigate this fundamental and frequently used estate planning tool.

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