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Irrevocable Life Insurance Trust (ILIT)

Access a tax-efficient method for transferring wealth to beneficiaries and safeguard your legacy assets with an Irrevocable Life Insurance Trust.
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Ensuring Tax-Efficient Beneficiary Support

An Irrevocable Life Insurance Trust (ILIT) offers a tax-efficient way to transfer wealth while addressing estate tax concerns. By structuring it properly, the ILIT can eliminate income, gift, and estate taxes on life insurance death benefits, ensuring more assets go to desired beneficiaries and causes. You establish the ILIT, appoint a trustee, and transfer ownership of life insurance policies to the trust. Upon your passing, the trustee collects the insurance benefit, covers expenses, and distributes the remainder to beneficiaries, bypassing estate taxes.1

First Western Client discussing Irrevocable Life Insurance Trust

Trust Administration
Performance Reviews
Estate Integration
Wealth Preservation

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Learn more about how we can help design an Irrevocable Life Insurance Trust for maximum benefits.

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Trust and Estates, Wealth Planning, and Trust services are Not a deposit, Not guaranteed by the Bank, May Lose Value.