Trusts have long played an essential role in estate planning for many individuals and families. The assets held in trust can vary from real estate to stocks, bonds, insurance policies, jewelry, and other collectibles. This deep-dive will focus on trust held life insurance policies, which can be considered a special asset class. For some, trust
When Donald Trump signed the Tax Cuts and Jobs Act of 2017 (TCJA) into law in December of 2017, the estate planning market was altered. The law raised the federal estate tax exemption from $5.49 million to $11.18 million, and many believed the need for a life insurance trust to house their policy was diminished.
The last few years have been a tumultuous time in the life insurance trust business. The prospect base is shrinking after the Tax Cuts and Jobs Act raised the federal estate tax exemption from $5.49M to $11.18M per person. Today only 1 in 1,000 estates affected by the estate tax (1). The asset class has become