Understanding Life Insurance Plans

Questions And Answers About ILIT Trusts

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An irrevocable life insurance trust (ILIT) is one of many ways that you can ensure your heirs benefit when you pass away. These trusts, as the name implies, can’t be revoked unless you and all the beneficiaries agree to do so. To understand more about these trusts and why they can be a good estate planning option, read through this guide. Why would one choose an irrevocable trust? An irrevocable trust has one key benefit over other estate disbursement options—it cannot be changed upon a whim. Read More»