For a variety of reasons, many people adamantly believe the following assertion is true: “life insurance is tax free.”  Despite being a common belief about taxes, it is simply not true. For the most part, when people talk about life insurance being tax free, they are referring to the death benefit of a life insurance policy which typically pays out only after the insured individual has passed away.  Which tax are they referring to?  Usually income taxes

This primer is meant for instructional purposes only.  It has been created with the intent of providing only a surface-level overview of common trust types for a non-attorney audience.  This primer is not a substitute for proper legal guidance.  The trust arrangements described below should not be attempted without an experienced professional who can provide this counsel. 

This primer is meant for instructional purposes only.  It has been created with the intent of providing only a surface-level overview of common trust types for a non-attorney audience.  This primer is not a substitute for proper legal guidance.  The trust arrangements described below should not be attempted without an experienced professional who can provide this counsel.