Life Insurance Planning | Wyatt Early Harris Wheeler LLP

Practice Area:Estates

Life Insurance Planning

Life insurance is one tool used to provide for liquidity in estate planning.  Liquidity needs can arise when a person must provide for living expenses for surviving dependents, the payment of estate tax liabilities, and/or cash needs for a family or closely-held business.  Our estate planning attorneys frequently help our clients plan for estate liquidity needs with careful financial and tax analysis of assets and liabilities.  We often use an Irrevocable Life Insurance Trust (ILIT) for the benefit of family members so that the proceeds will not be subject to estate or generation-skipping transfer taxes.