Life Insurance Trusts

A Life Insurance Trust is a legal arrangement that holds a life insurance policy. When the insured person passes away, the trust receives the insurance payout instead of the beneficiaries directly. This helps to avoid estate taxes and ensures that the funds are managed according to the insured's wishes. The trust can also provide financial support for beneficiaries, manage how and when they receive the money, and protect assets from creditors. Overall, it’s a tool to ensure that life insurance benefits are used effectively and according to your plans.