Irrevocable Life Insurance Trusts (ILITs) — Protect Insurance Proceeds and Reduce Estate Taxes

An Irrevocable Life Insurance Trust (ILIT) is a powerful estate planning tool designed to keep life insurance proceeds outside of your taxable estate while providing liquidity for heirs, estate taxes, or business succession needs. By placing a life insurance policy in an ILIT, you can protect the death benefit from estate taxes and potential creditor claims, while still directing exactly how and when your beneficiaries receive those funds. Tax Help Law Firm helps clients design, fund, and administer ILITs that align with their overall estate, tax, and asset protection goals.

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If you have—or are considering—a substantial life insurance policy, an ILIT can be critical to preserving the full value of that benefit for your family. We evaluate your current estate plan, projected estate tax exposure, and liquidity needs to determine how an ILIT can best support your goals, then draft and structure the trust to comply with complex tax and ownership rules. Tax Help Law Firm also advises on premium funding strategies, Crummey notices, and long-term administration so your ILIT functions properly over time. Call Tax Help Law Firm today to speak with an experienced estate planning attorney and learn how an Irrevocable Life Insurance Trust can help you protect your legacy and maximize the impact of your life insurance.

Strategic ILIT Planning to Maximize Life Insurance Benefits for Your Heirs

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