Return-Path: Received: from pop3.olsusa.com ([63.150.212.2] verified) by logan.com (CommuniGate Pro SMTP 3.5.4) with ESMTP id 1043373 for rob@logan.com; Sun, 10 Feb 2002 00:27:23 -0500 Received: from smtp.tscnet.net ([66.152.64.20]) by pop3.olsusa.com (Post.Office MTA v3.5.3 release 223 ID# 0-71866U8000L800S0V35) with ESMTP id com for ; Sat, 9 Feb 2002 19:09:43 -0500 Received: from mail.tscnet.net (mail.tscnet.net [66.152.64.7]) by smtp.tscnet.net (8.11.6/8.11.6) with SMTP id g1A0QfY10092 for ; Sat, 9 Feb 2002 16:26:42 -0800 Received: (qmail 20589 invoked from network); 10 Feb 2002 00:11:54 -0000 Received: from pou-1-10-28.tscnet.net (HELO c656256a) (66.152.73.28) by mail.tscnet.net with SMTP; 10 Feb 2002 00:11:53 -0000 Message-ID: <000901c1b1bf$b7e9b060$3e4ffea9@mshome.net> From: "Robert Smiley" To: References: <000b01c1b173$71dabac0$9e084ed8@dgwest> Subject: Re: personal liability Date: Sat, 9 Feb 2002 16:15:51 -0700 MIME-Version: 1.0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit X-Mailing-List: lancair.list@olsusa.com Reply-To: lancair.list@olsusa.com <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> << Lancair Builders' Mail List >> <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> >> Life Insurance, Place life insurance into a "Irrevocable Life Insurance Trust". You disclaim any incidence of ownership and control. You pay the premiums to keep it in force. The beneficiaries are whomever you designate whenyou set it up. The trust has its own tax Identification Number and a tax return is filed. You bite the dust. The insurance trust pays off the heirs per the terms originally set up. If you want to discontinue the trust you cannot change its provisions but you can stop funding the insurance hence it dies. That is a protected asset. Bob Smiley >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> LML website: http://members.olsusa.com/mkaye/maillist.html LML Builders' Bookstore: http://www.buildersbooks.com/lancair Please remember that purchases from the Builders' Bookstore assist with the management of the LML. Please send your photos and drawings to marvkaye@olsusa.com. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>