Long-Term Care Coverage in Irrevocable Trust Planning – Structural Risks, Planning Alternatives, and Practice Implications

Steven A. Fishman and Martin M. Shenkman.

Originally posted to Steve Leimberg’s Financial Products Planning Email Newsletter – Archive Message #57.

Modern estate planning for high-net-worth individuals relies on integrated insurance solutions to address mortality risk, disability exposure, and long-term care contingencies. While life insurance has long been embedded within irrevocable trust structures, such as irrevocable life insurance trusts, to create liquidity and facilitate wealth transfer, other forms of coverage—particularly long-term care insurance—have not been incorporated with comparable rigor. This omission reflects a planning opportunity, especially in the context of nonreciprocal spousal lifetime access trusts.

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