Book excerpt: Written by two practicing attorneys with more than twenty-five years of combined experience, Irrevocable Life Insurance Trusts Line by Line is a comprehensive examination of an irrevocable insurance trust agreement for an estate planning attorney. This book explains the reasoning behind the various clauses in the trust agreement, noting those which may be customized for the donor and the boiler-plate language which should be in every irrevocable insurance trust agreement. The book covers key topics such as estate, gift, and generation skipping transfer taxes; incidents of ownership, the three-year rule, Crummey powers, and annual exclusion gifts. Irrevocable Life Insurance Trusts Line by Line is a valuable resource for any practicing estate planning attorney, as well as for any law student interested in trusts and estates law.