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If we own a cash-value life insurance policy in our names,can financial institutions take it? The Law Firm of Steven F.Bliss Esq.Probate Lawyer Exactly what’s needed to establish an ILIT?.
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When your survivor (or expert consultant) has actually offered your insurance company with evidence of your death,the policy’s earnings are paid out directly to your beneficiaries For example,if you’ve already named your sister as a beneficiary on a retirement account or insurance policy (assets that typically pass outside of a will to a named beneficiary),you don’t want to bequeath the same asset to a second cousin in the will because it could lead to a will contest The Law Firm of Steven F.Bliss Esq.Trust Attorney.
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