One asset protection strategy is an irrevocable life insurance trust, or ILIT. Here's what to know about this financial product. "An irrevocable life insurance trust is a type of trust that is ...

You can create an irrevocable life insurance trust (ILIT) and name that trust the owner of your life insurance. By doing so, that particular asset will be removed from your estate. Upon your death ...

An irrevocable trust can't be changed or cancelled unless its beneficiary or a court allows it. The purpose of an irrevocable trust is to move assets from the grantor's control and name to that of ...

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