Qtip Details

No one knows when their time will come, but creating a form for life insurance trust can help ensure your family is taken care of financially if you should pass away. This helpful document can provide both peace of mind and security for your loved ones. Learn more about how to set up a life insurance trust in this informative post.

You will see info about the type of form you want to submit in the table. It can show you how much time it should take to finish form for life insurance trust, what fields you need to fill in, and so on.

QuestionAnswer
Form NameForm For Life Insurance Trust
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesMichigan, life insurance trust sample, life insurance trust form, 2000

Form Preview Example

17

Sample Irrevocable Life

Insurance Trust Forms

(And Other Related Items)

§17.1 SAMPLE ILIT FORM1

Appendix 1 contains a sample form of irrevocable trust designed to hold life insurance on the life of one person, who is married. This form is the sample ILIT that is referenced throughout this book. The trust is drafted on the assumption that the grantor alone will be making contributions to the trust. The sample form contains a contingent Marital Trust that is intended to qualify for the QTIP marital deduc- tion. The Family Trust (also known as a credit shelter trust) contains ascertainable standards, and thus allows the surviving spouse to serve as sole trustee of that trust, upon the insured’s death, without adverse estate tax consequences. The Family Trust contains provisions permit- ting it to be divided into a marital deduction trust for state death tax purposes. Such provisions permit the full use of the deceased grantor’s federal estate tax applicable exclusion amount when there is a state

1 This form is designed to be a supplement to (and not a substitution for) the grantor’s primary estate planning document, such as a revocable living trust. This form is not meant to be a pour-over recipient of the grantor’s probate estate or the grantor’s revocable living trust. Michigan practitioners should note that the form complies with Michigan’s Estates and Protected Individuals Code that went into effect on April 1, 2000.

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