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Article: Is Your Life Insurance Trust Still Relevant?
- Article from:
- Kiplinger's Retirement Report
- Article date:
- November 1, 2001
CopyrightCOPYRIGHT 2001 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NOW THAT the law allows you to pass on an increasingly large estate to your heirs without triggering federal estate taxes, you may be wondering what you should do about your life insurance trust. After all, if your estate is no longer taxable, do you really need this popular estate-planning tool?
For most people, the best strategy is to take a wait-and-see approach. Your situation could change or your estate might be bigger than you anticipate. And given the current economic climate and world events, lawmakers looking for ways to replenish dwindling federal coffers may be tempted to revisit the estate-tax issue.
BENEFITS OF A LIFE INSURANCE TRUST