As a Ventura County estate planning law firm specializing in life insurance trusts, our firm commonly recieves questions about life insurance trust pros and cons. We have a team of experts with the legal knowledge to answer questions about the process of choosing a life insurance trust, and what the benefits of proper estate planning can be.
Our firm can provide expert legal services as estate planning attorneys. We are a Southern California based law firm in business since 1985. We specialize in life insurance trusts and estate planning matters.
To learn more about life insurance trusts, or if you would like a free consultation to learn if a life insurance trust is right for you, please do not hesitate to contact us at (805) 482-2282, or e-mail us.
Could Not My Spouse Own My Insurance Instead of Using a Trust?
You could, but if your spouse dies first, the cash (or termination) value of the policy would be included in his or her taxable estate. Even if your spouse survives you, when your spouse subsequently dies, any remaining insurance proceeds would be included in his or her estate.
Thus, life insurance you own only worsens the estate tax problem. By using a life insurance trust, the insurance proceeds are kept out of both spouses’ estates.
It is our privilege to guide clients through estate planning decisions
