Also known as the Crummey Trust is an Irrevocable Trust that owns one or more life insurance policies. If this type of trust owns insurance policies on your life, the proceeds payable on your death generally should not be included in your estate for estate tax purposes. This type of trust is commonly used by business owners to provide liquid funds necessary to pay estate taxes.
Contact Us
At Halliday Financial, we take pride in fostering your financial safety. We assist our clients through every phase of the financial lifecycle, from starting a career and family to retirement. We take satisfaction in seeing our clients realize their dreams. Contact us today…