In an ILIT, the grantor or creator of the trust cannot change the terms or beneficiaries of the trust, just like any irrevocable trust. However, grantors may place one or more life insurance policies ...

I'm interested in setting up a revocable life insurance trust. I'd like to know if any money given to grandchildren as a loan by the trust is taxable, since it's not a gift. For instance, if they need ...

Editor's note: This is the first article in a series about financial and/or estate planning issues that we all should know but might be too embarrassed to ask about. First up: life insurance trusts.

See the tax advantages and downsides.