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Estate Planning in Milford

Revocable and Irrevocable Living Trusts

Revocable Living Trust (RLT)
This method of estate planning has become very popular in the financial and estate planning arenas over the last twenty years. WSK&L has an expertise in this planning and has done hundreds of these plans for clients over that time period.

Clients favor the advantages of this planning namely:

  • Avoidance of probate
  • Specificity of instructions
  • Simplified tax planning
  • Effective disability protection
  • Avoidance of post death litigation and conflict
  • Avoidance of ancillary or additional probate for property in non-domicilary states

Irrevocable Life Insurance Trust (ILIT)
An ILIT is a trust created for the purpose of owning one or more life insurance policies. The primary intent of an ILIT is to make cash available to the decedent's estate yet prevent the policy's death benefit from being included in the decedent's taxable estate.

Life Insurance Trust in Pennsylvania