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In addition,your ILIT will need a separate tax ID number,and a different savings account might be required Estate Lawyer (858) 278-2800 San Diego Probate Lawyer As the trust owns the capital instead of descendants the secured assets give up the requirement to pay tax when the time comes.
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Life events consisting of the birth of a child that is not included or children reaching their adult years might indicate that you require to make modifications.

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