An ILIT can be part of a comprehensive tax efficiency strategy. but you should be aware of the three-year rule. If you die within three years of transferring policies into the trust, the proceeds would be part of your estate for tax purposes. Learn more about an ILIT in this presentation.
Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
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