Lubbock Life Insurance Trust Attorneys
Helping Clients Determine the Best Suited Path for Their Estate Plans
A trust can be a powerful way to secure your family’s future. This legal arrangement involves a trustee who manages assets for your beneficiaries.
One popular method of funding a trust is with a life insurance policy, which provides money for your beneficiaries when you die.
If you have children or dependents, creating a life insurance trust can help you plan for their future and ensure they’re taken care of the way you want, even after you’re gone.
A qualified and experienced Lubbock life insurance attorney can help you decide if this option is suitable.
Contact Beck Law Firm for Your Life Insurance Trust Needs Today! Call us at (806) 531-3542.
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Read what past clients have said about working with Beck Law Firm.
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Hear From Our Happy Clients
At Beck Law Firm, your satisfaction is our priority! See for yourself what our clients have to say about working with us.
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"They Made It Easy"
The Beck Firm made setting up our wills extremely easy. What should have been a lengthy and intimidating process was made very simple. They were very thorough explaining the process and answering any questions we had.
- Trevor M. -
"I'll Definitely Be Back"
The Beck Law Firm is composed of a caring and kind team of legal experts who go above and beyond to understand and resolve your legal concerns. They were knowledgeable, resourceful, and efficient.
- Former Client -
"They Were Efficient and We Are Happy"
Good communication all the way through the process. All of our questions were answered quickly and in a way that made a somewhat complicated process easy to understand.
- Anthony G. -
"Incredible Service"
I recommend them to anyone who needs an attorney, they take care of business and they are on top of it!
- Delma D. -
"Worth Every Penny"
Beck Law Firm helped me get two LLCs set up in no time for a great price. I will definitely be back.
- Jonathan B. -
"Hands Down the Best"
Hands down the best law firm... in the state and in Lubbock. I highly recommend coming here for all your legal needs!
- Elijah S. -
"Excellent Experience"
This is a great law firm, Kristen Beck helped our family navigate the probate process for our Mom's estate. I highly recommend!
- Jeannie D. -
"Knowledgeable and Informative"
Kristen represented me and immediately went to work. We settled out of court. She is extremely professional, knowledgeable, and informative.
- David R.
What Are the Benefits of an Irrevocable Life Insurance Trust?
Irrevocable Life Insurance Trust (ILIT) is a trust that manages life insurance policies to benefit its beneficiaries.
ILITs offer several benefits, including:
- Estate tax savings: Establishing an ILIT reduces or eliminates estate taxes. The death benefit is part of your taxable estate when you own a life insurance policy. Transferring the policy to an ILIT typically removes the death benefit from your estate, reducing the potential estate tax liability.
- Asset protection: Creditors can’t claim assets held in an ILIT.
- Control of proceeds: You can specify how to distribute the proceeds from the life insurance policy to the beneficiaries.
- Privacy: Unlike wills, which go through probate and become public records, ILITs operate outside the probate process, so the trust details, including the beneficiaries and the amount of the insurance proceeds, remain private.
