Estate tax exemptions are expected to decrease in the near future. However, ILITs (irrevocable life insurance trusts) can help you reduce estate taxes to maximize your wealth transfer to future generations.
In this episode of Kyle Malmstrom’s podcast, Kyle speaks with Kristina Hess, estate planning attorney at KR Hess Law, PC. Join Kyle and Kristina as they explain what ILITs are, how to set them up, the tax benefits, and why they are becoming increasingly relevant among high-net-worth individuals.
In this episode, Kristina discusses:
- How ILITs reduce your net taxable estate
- How to move both existing and new life insurance policies into an ILIT
- The potential elimination of grantor trusts and its impact on estate planning, if it’s passed
- The ideal candidate for setting up an ILIT
- And more
Take a listen … and learn how to reduce estate taxes to maximize your wealth transfer and create legacies for future generations.
About the Live Life Liberated Podcast
In this podcast, the team at Centura Wealth Advisory shares stories, smart techniques and insights for those individuals and families who have not yet been exposed to innovative tax planning strategies that help build and protect their wealth.
We help our clients take their wealth from complex to elegant and from burdened to liberated. Join us as we explore strategies drawn from years of experience, research, and innovation, to solve your seen and unseen wealth management hurdles.
Kyle Malmstrom specializes in Liberating Wealth through the implementation of detailed and customized wealth management solutions. Kyle empowers his clients through educating and implementing proactive wealth planning solutions.
Kyle has over 25 years of active experience in financial markets, including six years as a NASDAQ market maker and trader. Kyle earned his B.S.B.A. in Finance from the University of Missouri-Columbia.