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What is the name of your state (only U.S. law)? FL
I am Co-trustee of a Florida irrevocable non-charitable trust. All Co-trustees and Qualified Beneficiaries are in agreement to terminate the trust. The trust does not qualify for non-judicial modification under FL 736.0421.
Therefore, it would...
Re: Irrevocable Life Insurance Trust with a $1mil term policy on the life of a surviving spouse.
Originally established to provide estate tax on illiquid real estate holdings. Premiums have been funded by the surviving spouse, gifted annually to the trust and disclaimed by the children...
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