Law Office of Zachary D Kamykowski, PLLC
An irrevocable life insurance trust (ILIT) is a specialized trust designed to own one or more life insurance policies outside of your taxable estate. For families in Bee Cave with significant life insurance coverage, an ILIT can save heirs hundreds of thousands of dollars in estate taxes by removing the insurance proceeds from the insured’s estate.
Without an ILIT, life insurance proceeds are included in the insured’s gross estate for federal estate tax purposes. For estates above the exemption threshold, this can result in a significant tax bill on assets that were intended to provide financial security for the family. An ILIT removes the proceeds from the estate entirely, allowing the full benefit to pass to beneficiaries tax-free.
Our office establishes ILITs, transfers existing policies into the trust, and helps clients understand the Crummey notice requirements and other compliance obligations that keep the trust effective. We coordinate the ILIT with the client’s broader estate plan to ensure all components work together.
We serve clients throughout Bee Cave and the surrounding Hill Country communities, including Lago Vista, Northwest Hills, Steiner Ranch, and West Lake Hills.
If you are looking for experienced legal guidance in Bee Cave, contact the Law Office of Zachary D Kamykowski, PLLC today. Attorney Zachary D. Kamykowski works closely with individuals and families throughout Bee Cave and the greater Lake Travis and western Austin corridor to develop personalized plans that protect what matters most. Call our office or use our online contact form to schedule your consultation.
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(By Appointment Only)
14425 Falcon Head Blvd
Bldg E-100
Austin, TX 78738
