Why should I create a life insurance trust?

Should the unthinkable happen and a loved one pass away without any advance planning, their family members could find themselves dealing with avoidable costs and expenses. Life Insurance held in an irrevocable trust can be one tool for helping your family avoid estate taxes and have sources of cash on hand to pay taxes or expenses. WHAT IS AN IRRECOVABLE LIFE INSURANCE TRUST (ILIT)? An …