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Presents information on the customized financial plan developed by Bruce M. Weinstein and James E. Schultz, of Schultz & Weinstein Financial Advisors Group, for the insurance policies of a retired couple. Issues identified by Schultz and Weinstein concerning the couple's assets; Purpose of the irrevocable life insurance trust created by the estate planning attorney for the couple; Benefits of the financial plan to the couple.

Presents a case on irrevocable life insurance trust (ILIT) in North Carolina. Background on the problem; Common trap concerning an ILIT; Ruling of the Internal Revenue Service on the case.

Offers estate planning advice for dermatologists in the United States. Advantages and disadvantages of irrevocable life insurance trust; Advantages of grantor retained annuity trust (GRAT); Risks associated with GRAT.

Reports on Texas money manager J. Paul Hamilton's entry into the irrevocable trust business. Mutual fund companies which have their own irrevocable trust products; Information on Hamilton's product, 10K Smart Trust; Tax deductions given to investors; Functions of the 10K Smart Trust; Information on the American Century Giftrust and the Royce Trust & Giftshares Fund.

Reports that the Court of Appeals for the Ninth Circuit has upheld the temporary restraining order and the preliminary injunction issued by the United States District Court requiring the husband and wife settlors of an irrevocable Cook Islands trust to repatriate the trust assets held for their benefit. Recovery of investments in the scheme; Elements of an effective offshore trust.