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Irrevocable Life Insurance Trust

An irrevocable life insurance trust (ILIT) is a trust established to own a life insurance policy on the life of the insured. Normally, the trust is also beneficiary of the policy. Properly drawn, these irrevocable trusts provide several benefits. ILIT Pros and Cons An ILIT may still be a necessary estate planning vehicle for some. […] Read more

Irrevocable life insurance trusts (ILIT) have been a sought after estate planning strategy. Some may say that this approach be rendered obsolete if the federal estate tax is repealed. Or, is this still an important strategy to consider regardless of looming changes? What is an Irrevocable Life Insurance Trust? Irrevocable life insurance trusts are a type of irrevocable trust. as […] Read more