ILIT

The Irrevocable Life Insurance Trust (ILIT) is a tool that protects life insurance death benefits from estate taxes. The trustee owns the policy and often uses gifts from the grantor to pay premiums. Trust Owned Life Insurance (TOLI) needs to be carefully managed to protect the beneficiaries and to avoid personal liability for the trustee. Direct Gifts is a way to transfer family wealth through lifetime gifts to family members or to an ILIT for their benefit.

ILIT

Irrevocable Life Insurance Trust Producer Guide – 11/2012