Trust documents form the backbone of every Irrevocable Life Insurance Trust (ILIT). They outline the trustee’s authority, the grantor’s intent, and the beneficiaries’ rights. But when those documents are vague, outdated, or poorly drafted, trustees can be left exposed to...
When acting as a trustee, or advising trustees, business valuations are more than just an accounting exercise. Improper or missing valuations of privately held businesses can lead to serious fiduciary exposure. In this post, we’ll take a deep dive into...
Irrevocable Life Insurance Trusts (ILITs) are often designed with the assumption that the grantor will continue gifting funds to the trust to pay life insurance premiums annually. But life doesn’t always go according to plan and needs can change. Whether...
Trust documents form the backbone of every Irrevocable Life Insurance Trust (ILIT). They outline the trustee’s authority, the grantor’s intent, and the beneficiaries’ rights. But...
When acting as a trustee, or advising trustees, business valuations are more than just an accounting exercise. Improper or missing valuations of privately held businesses...
Irrevocable Life Insurance Trusts (ILITs) are often designed with the assumption that the grantor will continue gifting funds to the trust to pay life insurance...
In today’s unpredictable financial landscape, trustees and financial advisors face unique challenges when managing variable life insurance policies. As market volatility continues and interest rates...
The world of trust-owned life insurance (TOLI) has always demanded careful oversight, but new data from ITM’s portfolio of over 9,500 trusts highlights a dramatic...
The 2024 election results suggest that the potential reduction in estate tax exemptions likely will not occur as previously expected. As a result, many life...
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Acting as a trustee for an Irrevocable Life Insurance Trust (ILIT) comes with distinct responsibilities, from managing policies to mitigating liability. Yet, many corporate trustees still struggle with how to appropriately charge for these services, often absorbing significant costs for...
Trust documents form the backbone of every Irrevocable Life Insurance Trust (ILIT). They outline the trustee’s authority, the grantor’s intent, and the beneficiaries’ rights. But...
Managing trust-owned life insurance (TOLI) requires a comprehensive understanding of the policies held in the trust. One critical element that is often overlooked is the...
Acting as a trustee for an Irrevocable Life Insurance Trust (ILIT) comes with distinct responsibilities, from managing policies to mitigating liability. Yet, many corporate trustees...
In recent years, the millennial generation has begun to redefine the landscape of estate planning, bringing fresh perspectives and unique challenges to an industry historically...
Fair market value (FMV) is the cornerstone of accurate business valuations, especially when it comes to managing assets within trusts or estates. For banks and...
Serving as a trustee for Trust-Owned Life Insurance (TOLI) is a significant responsibility involving adhering to various legal and fiduciary duties. The trustee must act...
Serving as a trustee for Trust-Owned Life Insurance (TOLI) is a significant responsibility involving adhering to various legal and fiduciary duties. The trustee must act...
Managing trust-owned life insurance policies is complex, especially when clients suspend premium payments. Around 40% of the policies we review annually are inadequately funded, resulting...
Life insurance trusts are an important financial tool that helps families take control of estate taxes and plan their legacy. However, like any financial instrument,...
Estate planning is a critical aspect of financial well-being that often requires a careful balance between minimizing liabilities and maximizing the value of assets for...
Managing Trust Owned Life Insurance is a difficult task, especially when clients stop paying scheduled premiums. ITM finds that over 40% of the policies they...
Recently, we updated a survey based on statistics from the Trust Owned Life Insurance portfolios of our clients. The information gathered was insightful, especially when...
Privately held businesses form the backbone of many families’ wealth and legacy, often representing significant personal, financial, and emotional value. When these businesses are held within trusts, accurately determining their worth becomes crucial audit, tax, financial, and legal reasons.
In this webinar, our business valuations experts will join our affiliate LITCO to help attendees gain a better understanding of when and why a trustee should seek out a privately held business valuation.
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