Term Life Insurance

Friday, September 30, 2016
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Advanced Life Insurance

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What is a trust?

 
DISCLAIMER: The purpose of this information is to provide general information which is subject to change and is specific to state law. ReliaQuote is not providing legal advice. If you have a specific legal issue or accounting issue, you should consult with a lawyer who is licensed to practice law in your jurisdiction or a certified public accountant familiar with tax regulations in your jurisdiction.
 
A trust is an agreement made between two parties for the benefit of a third party. The Trustee holds legal title to property for the benefit of others.

A life insurance trust is a trust formed to own a life insurance policy. An accountant or attorney can help set up a trust. Trust can be revocable or irrevocable.