Three Real Uses
- **Estate equalization** - leaving a business to one child and cash to another.
- **Liquidity** - paying estate taxes without forced sale of assets.
- **Wealth transfer** - using an irrevocable life insurance trust (ILIT) to remove proceeds from the taxable estate.
When It's Overkill
- Estates under the federal exemption ($13.6M+ in 2024)
- Simple beneficiary scenarios with no liquidity needs
- Single beneficiaries getting roughly equal shares
How to Coordinate with an Estate Attorney
Bring your attorney into the conversation. We structure the policy; they write the trust language. Working in parallel - not in sequence - saves time and prevents mismatches.
What to Expect
Initial structuring: 2-3 meetings, often with the attorney present at one. Ongoing: annual reviews.