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Revocable Trusts
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1:09
Facebook
Marcus Egiebor
🚨 Here’s how to use a revocable trust to protect your spouse when you pass away. ✅ If you only have a will, your spouse may face a long probate process to access your assets. ✅
Marcus Egiebor. Marcus Egiebor · Original audio. 🚨 Here’s how to use a revocable trust to protect your spouse when you pass away. If you only have a will, your spouse may face a long probate process to access your assets. This can be a challenge if they need immediate funds for relocation or bills. By placing your assets in a revocable ...
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A Revocable Trust doesn’t own your life insurance policy, it’s just the beneficiary. That means when you pass away, the policy proceeds are simply paid into the trust. An ILIT, on the other hand, actually owns the policy as the policyholder. That one detail makes all the difference. Big policy? Live in MA, NY, or WA? → You may need an ILIT. Avoid state death tax protect your legacy from creditors → You may need an ILIT. The way you fund an ILIT is through gifting, you, as the grantor, make a gif
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