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Download | Multi-Generational Split-Dollar

Download | Multi-Generational Split-Dollar

Multi-Generational Split-Dollar

What is Multi-Generational Split-Dollar?

  • An estate planning strategy in which Grandparent (“G1”) establishes an Irrevocable Life Insurance Trust (“ILIT”) for the benefit of Grandchildren (“G3”), which purchases a life insurance policy on the life of Child (“G2”).
  • As consideration for the life insurance premiums advanced, G1 takes back a “receivable” under which G1 is entitled to the greater of (i) premiums paid; or (ii) the cash value of the life insurance policy at the time of G2’s death.
  • When G1 dies, the receivable is....

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