An Irrevocable Life Insurance Trust (ILIT) is a trust that owns your life insurance policy so the death benefit passes to your heirs outside your taxable estate. If you own the policy directly, the death benefit is included in your estate and could face a 40% federal estate tax at ultra-high-net-worth levels. Existing policies you transfer to an ILIT are subject to a three-year lookback period. Annual gifts to the trust fund the premiums and may use Crummey withdrawal rights to qualify for the gift tax annual exclusion
We exist so you don’t have to worry about money. For more than 40 years, we’ve taken the sophisticated, time-tested approach that many ultra-high net worth individuals use to help manage their financial lives and made it accessible to more families.
