An irrevocable life insurance trust (ILIT) is a structure that cannot in any way be rescinded, amended, or modified after its creation. Life insurance policies are the chief assets held in ILITs.

Jose Luis Pelaez Inc / Getty Images An irrevocable life insurance trust (ILIT) is a trust created during the insured's lifetime that owns and controls a term or permanent life insurance policy or ...

One of the tools that stands out is the irrevocable life insurance trust (ILIT). This is a form of irrevocable trust where the asset involved is the death benefit of the grantor’s life insurance ...

An irrevocable life insurance trust (ILIT) is a financial product that allows you to separate your life insurance from your estate. “If you set up an ILIT, the idea is that the value of the life ...

The irrevocable life insurance trust (ILIT) collects the death benefit, pays the tax bill, and distributes whatever is left according to the insured individual's wishes. Any payout is also ...

A Loan Regime Split Dollar arrangement is an innovative strategy designed to address multiple wealth planning objectives, including retirement, estate, and asset protection planning. If properly ...

An ILIT may be either “funded” or “unfunded.” In a funded trust, the trust owns income-producing assets, such as securities, in addition to the life insurance policy. Income generated by ...