[WSBAPT] ILIT - MARITAL TRUST SAVINGS LANGUAGE

[Laura Latta]

Yes to both questions. Though I don't trustee any ILITs. I do advise that
the trustees get the beneficiaries to sign off. I don't think it's required
to qualify for the gift exclusion, but it's a good practice in my opinion.

On Mon, Nov 8, 2021 at 5:37 PM Diane J. Kiepe <DJKiepe at depdslaw.com> wrote:

> 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
>
> 509-455-5300
>
>
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*Laura LattaLaw Office of Laura Latta PLLC*

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