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Articles Posted in “irrevocable life insurance trust”

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Irrevocable Life Insurance Trusts Can Be Used to Lower Estate Taxes

The irrevocable life insurance trust (“ILIT”) provides an accessible means of avoiding New Jersey and federal estate taxes on life insurance proceeds. The potential savings often outweigh the disadvantages of what you give up. The New Jersey and federal “estate taxes” are taxes on the transfer of property at your…

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