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Life Insurance Policies
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Sample provision in a trust authorizing trustee to apply for and purchase life insurance policies
Estates & Trusts
Stocker and Rikoon on Drawing Wills and Trusts (13th Edition)
PLI Item #:
"Life Insurance Policies"
"Special Purpose Trusts"
"trustee authorized to purchase life insurance policies"
right to elect methods of settlement and exercise conversion privileges
enter into split-dollar agreement
designate and change beneficiaries under the policies
use income or principal to pay premiums
no liability for action taken in good faith
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