Maryland | Wills and Trusts
8/31/99, 8:26 pm
Legal Question
Irrevocable Life Insurance Trust
I currently am the owner of a 300K term insurance policy with the Federal Govt. (FEGLI) with my wife as beneficiary. I have read enough about these trusts to be "dangerous" and would certainly have one professionally prepared however my question is:
Does the fact that premiums are automatically withheld from my paycheck every two weeks (and there is no way around this) make a valid trust a very remote possibility ?
If not a remote possibility, would I need to write "gift" letters every two weeks ?
Thanks Much
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Read More Answered By: Bruce Lewis |
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