A striped racer, also known as the California whipsnake, is a species of non-venomous snake native to the coast and foothills of California. It is a long, slender, and fast-moving snake, identified by its distinctive stripes running down the length of its body. They primarily feed on lizards and small rodents. The scientific name for this species is Masticophis lateralis.
[irrevocable life insurance trust] , [ilit]
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Used primarily for estate creation, estate preservation, and estate conservation. Basically, a [irrevocable] trust is drafted (meaning drafted, designed, and created by a licensed JD professional aka a lawyer and/or attorney) to hold a LARGE [life insurance] policy on the insured (usually a parent(s), or the spouses parent(s), and upon materialization of the death certificate, the ILIT receives the death benefit insurance proceeds [tax free]!!! Yes, thats right, tax free! Most the time insurance proceeds are tax free, but theres the exemption limit, so even if the death benefit is WELL OVER the current exemption limit, the entire thing is passed tax free to the trust. The trust itself then has beneficiaries who receive the proceeds in accordance with the trusts design and instructions.
[irrevocable life insurance trust] , [ilit] meaning & definition 1 of [irrevocable life insurance trust] , [ilit].
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This page shows you usage and meanings of [irrevocable life insurance trust] , [ilit] around the world.
Best thing is, its free and you can even contribute without creating an account.
This page shows you usage and meanings of [irrevocable life insurance trust] , [ilit] around the world.
