Posts Tagged ‘ irrevocable trust ’

5 Estate Planning Ideas for Cliff Lee (& Other Pro Athletes)

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I am a life-long Phillies fan.  Imagine my pure delight when I heard that on Monday, elite pitcher Cliff Lee signed a 5-year, $120 million deal (plus a potential 6th if he reaches certain goals) with my phavorite team to help shepherd in a new era of excellence.  For more information, type “Cliff Lee” into…

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Irrevocable Life Insurance Trusts: The Fundamentals

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As discussed in this post on common uses for trusts, an irrevocable trust is a separate entity you can create for many different purposes. The “Irrevocable Life Insurance Trust”, or ILIT, is one type of irrevocable trust that is set up to own life insurance on your life. With the ILIT, your family can ultimately…

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