Primary Use and Structure of the Irrevocable Life Insurance Trust and Dynasty Trust

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IRREVOCABLE LIFE INSURANCE TRUST
Mom, Dad or
Split Gift
Surviving
Spouse
Life Insurance
Policy
Children
DYNASTY TRUST
Parents
Children, Grandchildren & Great-Grandchildren
Survivor's Death
Great-Great Grandchildren
Annual gifts
to trust
Income goes
to surviving
spouse
(optional)
Trustee
purchases
policy
Proceeds to
trust at death
Trust proceeds
replace tax liability
and passes to
heirs tax-free
Large annual gifts
Income or loans
Trust principal
Proceeds to trust
Large policy
purchased by trustee
PRIMARY USE AND STRUCTURE OF THE
AND DYNASTY TRUST