This continuing education class explains how irrevocable life insurance trusts ("ILIT's") can be used as an estate planning tool and the several different ways these types of trusts work including the payment of life insurance premiums and gifts to the trust. Also covered are the trustee's responsibilities, "Crummey Powers", hanging powers, special circumstances, and Florida's Decanting Statute and Trust Laws. Detailed examples are provided for additional emphasis and understanding.

Class highlights include:

• Revocable Trust Options


• Types of Insurance Trusts


• Gifts to a Trust


• The “Crummey” Power


• Tax Aspects of Irrevocable Life Insurance Trusts


• Variations of Irrevocable Life Insurance Trusts


• Spousal Support Trusts


• Spendthrift Trusts


• Approved for 4 Hours of Elective Continuing Education