Advanced Sales June 2017

Durable Power of Attorney & No-Lapse Universal Life Insurance Owned by ILITs

As people age into their 80s with longer life expectancies, their mental capacity is often diminished when it comes to managing their financial affairs. This declining capacity suggests an interesting issue which can impact whether continued gifting of premiums to Irrevocable Life Insurance Trusts (ILITs) can take place. Many ILITs have been funded with no-lapse […]