FSP ARTICLE 2016 JAN
DO YOU STILL NEED AN IRREVOCABLE TRUST FOR LIFE INSURANCE?
The heart of the question includes whether clients who are affluent, but not going to be subject to federal estate tax, should maintain an existing irrevocable trust in view of the current estate tax law. Closely related is the question of what the future estate tax law might be. Predictions on that score are dicey, especially when one projects a client’s own life expectancy and tries to match it with a projection as to future asset values and the estate tax law.