<div dir="ltr">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.</div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Mon, Nov 8, 2021 at 5:37 PM Diane J. Kiepe <<a href="mailto:DJKiepe@depdslaw.com">DJKiepe@depdslaw.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">
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<div class="gmail-m_7545511903376064150WordSection1">
<p class="MsoNormal"><span style="font-size:16pt">Hello List Folk,<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:16pt"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:16pt">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.
<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:16pt"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:16pt">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).<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:16pt"><u></u> <u></u></span></p>
<p class="MsoNormal"><span style="font-size:16pt">Thanks in advance for any insights.<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:16pt"><u></u> <u></u></span></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold"">Diane J. Kiepe<u></u><u></u></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Script MT Bold""><u></u> <u></u></span></i></p>
<p class="MsoNormal">Diane J. Kiepe<u></u><u></u></p>
<p class="MsoNormal">Douglas Eden<u></u><u></u></p>
<p class="MsoNormal">717 W. Sprague Ave.<u></u><u></u></p>
<p class="MsoNormal">Suite 1500<u></u><u></u></p>
<p class="MsoNormal">Spokane, WA 99201<u></u><u></u></p>
<p class="MsoNormal"><a href="mailto:djkiepe@depdslaw.com" target="_blank">djkiepe@depdslaw.com</a><u></u><u></u></p>
<p class="MsoNormal">509-455-5300<u></u><u></u></p>
<p class="MsoNormal"><u></u> <u></u></p>
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