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Foreign Irrevocable Life Insurance Trusts Can Save Estate and Income Tax

Foreign Irrevocable Life Insurance Trusts Can Save Estate and Income Tax

On the tax side of rendering estate planning services, the estate planner is faced with Federal income, gift, estate, and generation-skipping tax issues. All of these issues (and more) must be addressed in the context of an irrevocable life insurance trust (“ILIT”) established in a foreign jurisdiction.

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