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
Irrevocable Life Insurance Trust Administration

Irrevocable insurance trusts are complex financial tools, and to receive the maximum advantages, having professional help to design an ILIT is strongly recommended. Considering the intricate tax implications, careful administration is essential to ensure their success.1

  • Compliance with Legal Requirements — With expert guidance, you can navigate the complex legal landscape surrounding ILITs, ensuring that your trust complies with all relevant laws and regulations.
  • Compliance with Legal Requirements — With expert guidance, you can navigate the complex legal landscape surrounding ILITs, ensuring that your trust complies with all relevant laws and regulations.
  • Tailored To Your Needs — Professional help enables the customization of your ILIT to align with your specific financial goals and estate planning objectives, providing a personalized solution that meets your needs.
  • Efficient Trust Administration — By entrusting the administration of your ILIT to professionals, you can streamline the process, reduce administrative burdens, and ensure the smooth ongoing management of the trust assets.
Policy Performance Reviews

To effectively minimize estate taxes, avoid gift taxes, provide asset protection, and facilitate legacy planning through an Irrevocable Life Insurance Trust (ILIT), having the ILIT reviewed by financial professionals ensures that the policy is utilized most advantageously for the benefit of your family.

  • Compliance with Legal Requirements — With expert guidance, you can navigate the complex legal landscape surrounding ILITs, ensuring that your trust complies with all relevant laws and regulations.
  • Compliance with Legal Requirements — With expert guidance, you can navigate the complex legal landscape surrounding ILITs, ensuring that your trust complies with all relevant laws and regulations.
  • Tailored To Your Needs — Professional help enables the customization of your ILIT to align with your specific financial goals and estate planning objectives, providing a personalized solution that meets your needs.
  • Efficient Trust Administration — By entrusting the administration of your ILIT to professionals, you can streamline the process, reduce administrative burdens, and ensure the smooth ongoing management of the trust assets.
Estate Planning Integration

Discover how ILITs seamlessly integrate with your broader estate planning strategy, reinforcing your estate’s tax efficiency and aligning with your legacy goals. Our approach ensures that your ILIT complements other estate planning instruments, such as wills, revocable trusts, and philanthropic endeavors, to create a cohesive plan that reflects your wishes and maximizes the benefits for your heirs.

  • Compliance with Legal Requirements — With expert guidance, you can navigate the complex legal landscape surrounding ILITs, ensuring that your trust complies with all relevant laws and regulations.
  • Compliance with Legal Requirements — With expert guidance, you can navigate the complex legal landscape surrounding ILITs, ensuring that your trust complies with all relevant laws and regulations.
  • Tailored To Your Needs — Professional help enables the customization of your ILIT to align with your specific financial goals and estate planning objectives, providing a personalized solution that meets your needs.
  • Efficient Trust Administration — By entrusting the administration of your ILIT to professionals, you can streamline the process, reduce administrative burdens, and ensure the smooth ongoing management of the trust assets.
Wealth Preservation Strategies

Explore strategies for preserving your wealth for future generations with an ILIT. Learn how leveraging an ILIT can protect your assets from creditors and legal disputes, ensuring your wealth remains securely within the family. This approach shields your financial legacy from external threats and establishes a structured pathway for transferring your assets across generations, according to your precise wishes and intentions, with minimal legal hurdles and financial erosion.1

  • Compliance with Legal Requirements — With expert guidance, you can navigate the complex legal landscape surrounding ILITs, ensuring that your trust complies with all relevant laws and regulations.
  • Compliance with Legal Requirements — With expert guidance, you can navigate the complex legal landscape surrounding ILITs, ensuring that your trust complies with all relevant laws and regulations.
  • Tailored To Your Needs — Professional help enables the customization of your ILIT to align with your specific financial goals and estate planning objectives, providing a personalized solution that meets your needs.
  • Efficient Trust Administration — By entrusting the administration of your ILIT to professionals, you can streamline the process, reduce administrative burdens, and ensure the smooth ongoing management of the trust assets.

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Ready to learn more? Let’s have a conversation.

Learn more about how we can help design an Irrevocable Life Insurance Trust for maximum benefits.
Trust and Estates, Wealth Planning, and Trust services are Not a deposit, Not guaranteed by the Bank, May Lose Value.