Basics of Irrevocable Life Insurance Trusts

Brent chats with Matt Hochstetler about the basics of irrevocable life insurance trusts (ILITs). They explain what these trusts are, why they are useful, Crummey provisions, and creative planning with life insurance. Matt Hochstetler is a trusts-and-estates attorney practicing in Naples, Florida and Canton, Ohio. His practice serves wealthy families, family offices, and private trust companies across the United States.  Matt counsels clients on estate planning and administration as well as matters concerning the structure and operation of family offices and private trust companies. Matt is an ACTEC Fellow and earned his LLM from the University of Miami Heckerling Graduate Program in Estate Planning, where he was the highest-ranking student in multiple classes.  He received his Juris Doctor magna cum laude from the University of Toledo College of Law. This material is for informational purposes only. The views expressed are those of the speaker as of the date noted and not necessarily of the speaker’s firm or its affiliates. If you are enjoying the podcast please SUBSCRIBE and leave a REVIEW, and if you want to learn more about Brent go to https://wealthandlaw.com/team/. Legal Disclaimer: https://wealthandlaw.com/legal-disclaimer/