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A popular saying on the television program Once Upon A Time was “all magic comes with its price”. This is also true for irrevocable trusts. The magic of an irrevocable trust is its ability to remove all the assets held in the trust from the estate of the grantor as well as to carry out the grantor’s wishes for how those assets will be distributed. But the price for such magic is the irrevocable nature of the trust and the notoriously difficult process to make any changes.

Clients who have achieved wealth at a young age may have vastly different life insurance needs than traditional clients. At Life Insurance Strategies Group, we regularly work with clients aged 25 to 45 who have either generated wealth through business or investment growth or who have had recent liquidity events from the disposition of assets or inheritance. Many of these clients have not yet married or started families. Most are not sure what they will be doing the rest of t