[WSBAPT] ILIT - MARITAL TRUST SAVINGS LANGUAGE

[Diane J. Kiepe]

Hello List Folk,

I am curious of how many of you out there draft ILITs with Marital Trust Deduction Saving clause such that if any portion of life insurance proceeds are pulled back into one's estate that portion is set aside in a qtip type trust.  One example where this may happen is if a life insurance policy is put into trust and the transferor fails to survive the requisite 3 year period related to the transfers of life insurance policies.

While we are at it, can I ask anyone inclined to answer if you  have your crummey beneficiaries sign off that they are not exercising their demand rights?  I tend to not do this and just allow the time to pass as provided for in the crummey notice (and of course my document has hanging crummey language).

Thanks in advance for any insights.

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

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