State

Does trustee have ins int in life of :

Any aggregation provision?

Any qualifications?

Other

grantor

anyone in whom grantor has ins int?

Anyone else?

To all?

To anyone else?

Delaware

Yes

Yes (federal income tax purpose qualification)

Yes

Yes

to extent person has ins int w/ respect to proceeds of ins on the life of such person that are allocable to the person’s interest in such trust

Florida

Yes

Yes (also includes related by blood or law provision)

Yes: trust bens & anyone else in whose life trust ben has ins int

No

for grantor & “person in whom grantor has ins int” categories, life ins proceeds must be primarily for benefit of trust bens having an ins int in life of ID

for “anyone else” category, proceeds must be primarily for benefit of persons having ins int in life of insured

Georgia

Yes

Yes

Yes

Yes

to extent any trust ben has ins int with respect to proceeds of insurance on life of such person

Maine

Yes

No

Yes: trust bens

No

Yes: for all categories, the grantor or trust ben must have ins int as defined in 4 categories in statute

Has a provision on partnerships

Maryland

Yes

Yes (also includes related by blood or law provision)

No

No

life ins proceeds must be primarily for benefit of trust bens having an ins int in life of ID

South Dakota

Yes

Yes

Yes

Yes

grantor must be the insured OR must have an ins int in life of ID like ins int otherwise recognized in SD ins int law

to extent a trust ben has ins ins int in the life of the “anyone else”

Has a provision on business trusts

Utah

No

No

Yes

No

to extent trust ben has the ins int

Virginia

Yes

Yes (federal income tax qualifier)

Yes

No

In each person in whose life a trust ben has an ins int

Washington

No

No

Yes: trust bens; plus anyone else in whose life trust ben has an ins int

No