Middlesex Massachusetts Irrevocable Life Insurance Trust - Beneficiaries Have Crummey Right of Withdrawal

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State:
Multi-State
County:
Middlesex
Control #:
US-0642BG
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Word; 
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Description

A Crummey trust is a trust that takes advantage of the gift tax exclusion and also keeps money in trust by placing significant restrictions on the recipient's right to withdraw. The trust allows a limited amount of withdrawals by the trust's beneficiary,
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Middlesex Massachusetts Irrevocable Life Insurance Trust - Beneficiaries Have Crummey Right of Withdrawal