Taxation of Life Insurance: Protect Your Business With An Irrevocable Life Insurance Trust (ILIT)
So you’ve decided to fund your business succession plan with a life insurance policy. Smart move. However, don’t make the mistake of leaving the insurance proceeds to Uncle Sam. In this article, I discuss the importance of Irrevocable Life Insurance Trusts (“ILIT”).
Without proper planning, a departing owner may leave a business in […]