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These signature estate planning strategies can help you help your clients minimize taxes, protect their assets and ensure their wishes are carried out.
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Wait and see planning
A Wait and see estate planning strategy uses a combination of life insurance and trusts in a way that offers clients flexibility to support changing circumstances throughout their lives.
When to consider:
For younger married couples who need estate planning but may need future access to life insurance cash value for unforeseen expenses or retirement, and who aren’t ready to permanently remove the policy from the estate. Ideal when estate tax exposure is uncertain and flexibility is key.
Irrevocable Life Insurance Trust (ILIT)
An ILIT is a trust created to own life insurance outside your client’s estate. If the ILIT is drafted and administered properly, the death benefit from the policy (owned inside the ILIT) is not subject to income or estate taxes upon your client’s death.1
When to consider:
For clients who want to keep life insurance proceeds out of their taxable estate and understand they are losing access to the premiums paid and the policy cash value. Commonly used to fund estate taxes or equalize inheritances, especially with survivorship policies and high-net-worth estates.
Beneficiary Limited Access Trust (BLAT)
A BLAT is a flexible irrevocable life insurance trust (ILIT) that provides lifetime access to cash values for a child or other beneficiary while keeping the policy outside the client’s and child’s estate.
When to consider:
For families who want to provide structured access to trust assets to a beneficiary during life, while maintaining control. Ideal when beneficiaries need incentives or guardrails tied to education, employment or other milestones.
Spousal Limited Access Trust (SLAT)
A SLAT is a type of traditional irrevocable life insurance trust (ILIT), with the added flexibility that allows spousal access to the life insurance policy’s cash value. Like an ILIT, it owns life insurance outside a client’s estate, keeping it from being subject to income or estate taxes.
When to consider:
For married couples seeking to remove assets from both estates while allowing one spouse access to trust income or principal. Useful in high-net-worth planning where estate tax reduction and spousal support are both priorities.
Split dollar arrangements
Split dollar is the sharing of premium payments between two or more parties, either through shared premium payments (reportable economic benefit REB) or a loan arrangement. It can be used in estate planning to transfer wealth to heirs tax efficiently. It also can be used as an employee benefit.
In endorsement split dollar, one party owns the policy and endorses a portion of the death benefit to their spouse, trust or non-spousal beneficiary.
When to consider:
Split dollar arrangements may be used by people who are looking to lower their gift tax costs. The gift of a split dollar arrangement is either the reportable economic benefit (REB) or the loan interest, both of which are far lower than the policy premium.
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- If owner/insured are different, the death benefit will be paid upon death of the insured.
Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.
Life insurance products contain charges, such as Cost of Insurance Charge, Cash Extra Charge, and Additional Agreements Charge (which we refer to as mortality charges), and Premium Charge, Monthly Policy Charge, Policy Issue Charge, Transaction Charge, Index Segment Charge, and Surrender Charge (which we refer to as expense charges). These charges may increase over time, and may contain restrictions, such as surrender periods. Policyholders could lose money in these products.
Policy loans and withdrawals may create an adverse tax result in the event of lapse or policy surrender and will reduce both the surrender value and death benefit. Withdrawals may be subject to taxation within the first fifteen years of the contract. Clients should consult their tax advisor when considering taking a policy loan or withdrawal.
This information may contain a general discussion of the relevant federal tax laws. It is not intended for, nor can it be used by any taxpayer for the purpose of avoiding federal tax penalties. This information is provided to support the promotion or marketing of ideas that may benefit a taxpayer. Taxpayers should seek the advice of their own tax and legal advisors regarding any tax and legal issues applicable to their specific circumstances.
For financial professional use only. Not for use with the public. This material may not be reproduced in any form where it is accessible to the general public.
DOFU 2-2026
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