Site: alllaw.com
... When you set up a life insurance trust, the trust—rather than you—is the legal owner of the ... must set up the trust to be irrevocable, which means that once you create it, you cannot modify it. ... (By contrast, when you set up a “revocable living trust,” you have the option to modify it ... After you’ve created the trust, you can either transfer an existing life insurance policy to the ... At the very least, if you already own a policy, transfer your policy to the trust as soon as you&rsquo ...