Versatile Irrevocable Life Insurance Trust
The Versatile Irrevocable Life Insurance Trust (VILIT) is designed to help you secure your family’s future and minimize tax burdens. By allocating a portion of your income into a trust account, we ensure that taxes are set aside at your retirement’s typically lower rate. This reduces the risk of your children or heirs paying higher tax rates later.
- Preserves more wealth for your loved ones
- Provides peace of mind about future tax obligations
- Helps you make strategic decisions with your assets
Tax Optimized Wealth Transfer
We offer custom solutions to transfer your wealth to the next generation in the most tax-efficient way possible. By planning ahead, you can keep your assets working for your family and not the IRS.
- Minimize estate and inheritance tax exposure
- Maintain control over how assets pass to heirs
- Ensure a smooth, hassle-free transition for your family
Professional Trust Management
Our experienced professionals at Ann Arbor Elder Law oversee and manage your trust, making sure decisions align with your wishes. You get the benefit of trusted advisors who understand both the law and your unique family needs.
- Hands-on management and oversight
- Regular updates and transparent reporting
- Flexible support for changes in your family situation
Retirement Income Planning
We help you plan for a comfortable retirement while reducing tax pressure on your estate. Our strategies make sure your future needs are met and that your loved ones also benefit from thoughtful, long-term planning.
- Optimize your savings for retirement and beyond
- Reduce uncertainty about lifetime expenses
- Protect your family’s financial well-being
Common Questions
This service lets you set aside money for future taxes at your lower retirement tax rate. That way, when your children inherit your assets, most taxes have already been paid, so they won’t have to pay as much or worry about a bigger tax bill later.
Yes, you can update who gets the money from the trust in the future. This gives you flexibility if your family situation or wishes change over time.
This service is most helpful if you have between $1 million and $15 million in assets. It’s designed for people who want to protect what they have saved and make sure their loved ones benefit as much as possible.
With this service, you set money aside in a trust and may not be able to use it for your own needs later. It’s meant for long-term planning to benefit your loved ones, so it’s important to be sure you can manage without those funds.
If tax laws change after you set up the trust, the plan can often be reviewed and adjusted to fit new rules. Your trust will be reviewed as needed to help keep your wishes on track, even if laws shift in the future.