Posts Tagged ‘ ilit ’

Irrevocable Life Insurance Trusts: The Fundamentals

Manhattan_Life_Insurance_Company_Building_New_York_City

As discussed in this post on common uses for trusts, an irrevocable trust is a separate entity you can create for many different purposes. The “Irrevocable Life Insurance Trust”, or ILIT, is one type of irrevocable trust that is set up to own life insurance on your life. With the ILIT, your family can ultimately…

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