Minimize Estate Taxes Using Irrevocable Life Insurance Trusts

An Irrevocable Life Insurance Trust (ILIT) is a very important estate planning tool that provides many benefits, the most beneficial of which is tax savings. An ILIT is an irrevocable (non-amendable) trust that is both the owner and the beneficiary of one or more life insurance policies. If the insured is a married person, the non-insured spouse and children are most often beneficiaries of the ILIT. If the Read More