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Life Insurance Trusts

Creating an estate plan provides an opportunity to protect the value of assets from unnecessary taxation through the use of legal instruments that vary according to specific goals. The main goal of a life insurance trust is to reduce or eliminate estate taxes.

For a free, confidential consultation to discuss how a life insurance trust can benefit you, contact a San Francisco attorney at The Evans Law Firm at 415-441-8669 or 888-50-EVANS or info@evanslaw.com.

Oakland Attorneys, Creating Trusts to Protect Asset Value and Control Beneficiaries

To create a life insurance trust you must first create an irrevocable trust, naming someone else as trustee. Then you transfer the policy into the trust and the trust becomes owner of the policy.

You will no longer have any control over the policy, but through the terms of the trust you can determine who will have control, how premiums will be paid, who will benefit from the trust and how payments should be made to the beneficiary or beneficiaries.

There are three important requirements to establish a life insurance trust:

  • The trust must be irrevocable.
  • You cannot be the trustee of the trust.
  • The trust must exist for at least three years before your death.

Estate Planning Lawyers Serving Sacramento and Other California Communities

To discuss the importance of life insurance trust to your asset protection plan, please call 415-441-8669 or contact our lawyers online via e-mail. Located in San Francisco, we accept cases in Oakland and communities throughout California.

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