Private Financing is a strategy to pay for a life insurance policy owned by an Irrevocable Life Insurance Trust (ILIT) for estate planning purposes with no gifts and hence no gift tax costs. Traditionally, Private Financing has been promoted with a 10-pay policy and a 9-year note on the theory that using the low Mid-Term AFR is the best option. This is the second piece in a series on Private Financing strategies.
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