@LouiseHay Our messages include those of @BestEducation @MommySurvivor @LegacyLessons and @RickyWilliams

@LouiseHay My name is @DonWestJr and I am an aspiring everything because I love life and enjoy living with fervor and passion! #WhatIsYourLegacY #Ping

Follow football legend, spiritual seeker

Follow football legend, spiritual seeker and gregarious thinker @RickyWilliams on #Twitter. Don’t miss his flow! on #Quotes #Spirituality

What if we created our lives based off o

What if we created our lives based off of other people’s judgments? Whatever that brings up, will you destroy and uncreate? rwgbppa9sbb ~RW

RT @rickywilliams: “Who would you be if

RT @rickywilliams: “Who would you be if you what others thought of you was just “an interesting point of view”?” #ThoughtsAreThings #EatWell

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“Got Ink? (That means Tattoo) – Then Sh

“Got Ink? (That means Tattoo) – Then Show It!” just launched on FB #Tattoo #GotInk #PassItOn http://ow.ly/8gmf1

Law and Disorder

Well written and poignent, a striking revelation of truth from a friend. I recommend taking a peak.

Law and Disorder.

Test Message via Hootsuite

Test Message via Hootsuite

What are an ILIT’s components?

Irrevocable life insurance trusts (ILIT’s) are used to:

• create an estate for heirs using life insurance
• shield life insurance payouts from estate tax
• replace assets given to charities or placed in IIOT’s (Irrevocable Income Only Trusts)

People often make the mistake of naming their estate as the beneficiary of their life insurance policy. This makes the proceeds of the policy, known as the death benefit, part of the taxable estate. A simple way to avoid estate tax issues is to transfer life insurance policies into an irrevocable life insurance trust. The value of the insurance remains outside your taxable estate, but you can still name beneficiaries for the trust. ILIT’s can help replace assets donated to charities or place in IIOT’s by providing a lump sum payment to the trust when you pass on.

There are three components in an irrevocable life insurance trust, similar to those found in a living trust:

1. Trust makers, who control their ILIT’s through their instructions
2. Trustees and their successor trustees, named by the trust makers
3. Beneficiaries and contingent beneficiaries, named by the trust makers

Who buys the life insurance on my life or my partner/spouse’s and my lives?

The life insurance is purchased by the ILIT’s trustees.

Can I or my partner/spouse be a trustee?

A third-party, independent trustee should be named in order to keep proceeds out of your taxable estate.