Contribution Notice – Who Signs for a Minor?
Irrevocable Life Insurance Trusts (ILIT) Many people create irrevocable life insurance trusts (ILIT) for the benefit of minor children. The common scenario is that the grantor will create an ILIT and his or her spouse will act as trustee of such trust. Because ILITs are established as Crummey trusts, a contribution notice should be sent […]