Life Insurance trusts Are Still A Valuable Asset Protection Tool

Many times a person who is sued owns one or more significant life insurance policies.  If a lawsuit against the insured is successful, the life insurance policies could be subject to the claims of the successful plaintiff. 
One way to protect a valuable life insurance policy from the claims of a creditor is to place the policy into a life insurance trust.  The insured’s spouse and descendants may be beneficiaries of the trust.  During the insured’s lifetime, all of the assets held by the trust, including any life insurance policies, are not subject to the claims of the insured’s creditors. ​

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