An irrevocable life insurance trust (ILIT) is a powerful estate planning tool used to hold life insurance policies outside of a decedent’s taxable estate, helping provide liquidity for heirs and reducing potential estate tax exposure. At the Law Offices of Robert P. Bergman we assist clients in Sylmar and throughout California with tailored trust solutions that reflect family dynamics, asset protection goals, and tax planning considerations. From explaining how ownership and beneficiary designations interact with estate law to coordinating trust funding and trustee duties, we provide practical guidance so clients understand how a well-drafted ILIT fits into an overall estate plan.
Choosing to pursue an ILIT involves several key steps that affect insurance ownership, gift taxation, trust administration, and post-death distribution. Our approach begins with a careful review of existing policies, beneficiary designations, and the client’s broader estate documents, then moves to drafting trust provisions that work with life insurance carrier requirements and family objectives. We help clients identify appropriate trustees, set conditions or timing on distributions, and ensure that funding strategies align with annual gift exclusion rules where appropriate. This process supports clarity for beneficiaries and reduces the risk of unintended tax consequences or administrative complications.
An ILIT is important because it separates insurance proceeds from the insured’s taxable estate, establishes a clear mechanism for distributing funds to beneficiaries, and creates liquidity that can be used to pay taxes, debts, or other obligations at death. Beyond tax considerations, an ILIT can provide creditor protection for proceeds, enable controlled distributions over time, and preserve benefits for family members with special needs or unique financial circumstances. When structured correctly, the trust helps preserve family wealth, provides administrative direction to trustees, and reduces uncertainty at a time when heirs may be coping with loss and complex estate matters.
The Law Offices of Robert P. Bergman serves clients across California, including those in Sylmar and Los Angeles County, with comprehensive estate planning services focused on practical results. We work with individuals and families to design trusts and related documents such as revocable living trusts, wills, powers of attorney, and advance health care directives that coordinate smoothly with an ILIT. Our attorneys take time to learn each client’s goals and family circumstances, translating legal options into clear plans that reduce future conflict and administrative burdens. We emphasize careful drafting, thorough funding steps, and ongoing review to ensure documents remain aligned with changing laws and family needs.
An irrevocable life insurance trust is established when the grantor transfers a life insurance policy or the funds to purchase one into a trust that cannot be revoked by the grantor. Once transferred, the terms of the trust govern who receives the death benefit and under what conditions. Because the insured no longer owns the policy, the proceeds are generally not included in the insured’s estate for tax purposes, subject to timing rules and proper funding. Trustees administer policy premiums, handle claims, and follow distribution instructions, providing a predictable mechanism for turning insurance proceeds into family support or estate liquidity after death.
Key considerations when creating an ILIT include the choice of trustee, funding method, how gifts for premium payments are treated for tax purposes, and coordination with beneficiary designations on other estate planning documents. The trust should clearly state powers and limitations for the trustee, how distributions will be handled, and any conditions for beneficiary access. If the insured retains certain rights or incidents of ownership, the policy may remain includable in the estate, so careful drafting and proper transfer procedures are essential. An informed planning process reduces the risk of the trust failing to achieve its intended tax or asset protection results.
An ILIT is a trust instrument specifically designed to hold life insurance policies outside the insured’s taxable estate. The trust owns the policy and the trustee manages the policy according to trust terms, including premium payments, claims handling, and distribution instructions after death. The primary purpose is to ensure that life insurance proceeds are distributed according to the grantor’s wishes while minimizing inclusion of those proceeds in the taxable estate. The trust can also impose conditions, create staggered distributions, protect proceeds from creditors, and provide for beneficiaries who may not be suited to receive large lump sums immediately upon inheritance.
Core elements of an ILIT include the trust instrument itself, the trustee who accepts and manages the policy, the beneficiaries named to receive trust benefits, and the funding mechanism for policy premiums. Typical processes include transferring ownership of an existing policy to the trust or purchasing a new policy owned by the trust, documenting gifts used to pay premiums, and issuing any required notices to beneficiaries. Administrative tasks also include obtaining a tax identification number for the trust, coordinating with the insurer for ownership and beneficiary designation updates, and maintaining records that support tax and accounting positions taken by the trustee.
Understanding common terms helps clients make informed decisions about an ILIT. Important concepts include ownership, gifts, trusteeship, beneficiaries, funding strategies, and tax implications. Ownership refers to who holds the policy title; gifts are contributions to the trust used to pay premiums; trusteeship covers who manages trust assets and follows distribution provisions; beneficiaries receive the proceeds under the trust terms. A clear grasp of these concepts helps ensure that the trust functions as intended and that gifts and transfers are documented to reflect annual exclusion allowances and other applicable tax rules.
An irrevocable trust is a legal arrangement that, once established and funded, generally cannot be altered or revoked by the grantor. For ILITs, the irrevocable nature is what separates policy ownership from the grantor’s estate, when transfers are properly executed and timed. This permanence provides predictability for beneficiaries and can deliver tax and asset protection benefits, but it also means the grantor relinquishes control over the policy and the trust assets. Because of this tradeoff, careful drafting and coordination with the client’s broader estate strategy are important to match the trust terms with family goals.
The trustee is the individual or entity responsible for holding title to the policy, managing premium payments, filing claims, and administering distributions to beneficiaries under the trust’s terms. Trustees have fiduciary duties to act in the beneficiaries’ interests, maintain accurate records, and follow both the trust document and applicable law. Choosing a trustee who understands the administrative requirements and who can coordinate with insurers, financial institutions, and tax advisors is important for smooth trust operation and for preserving the intended tax treatment of policy proceeds.
A beneficiary is a person or entity designated to receive the benefits from the ILIT after the insured’s death. The trust document controls how and when beneficiaries receive proceeds, which can include lump-sum distributions, staged payments, or support for specific needs like education or healthcare. Naming beneficiaries through the trust rather than directly on the policy helps ensure that distributions occur according to the grantor’s wishes and can provide protections against creditors or inappropriate immediate distributions to heirs who may not be prepared to manage a large inheritance.
Trust funding for an ILIT commonly involves transferring ownership of an existing life insurance policy to the trust or providing funds to the trust to purchase a new policy. Funding also includes making gifts to the trust used by trustees to pay policy premiums. Properly documenting gifts, tracking annual exclusion amounts, and providing any required notices to beneficiaries helps preserve the anticipated tax treatment. Funding is a practical and legal step that ensures the trust can fulfill premium obligations and that the intended separation between the insured’s estate and the policy proceeds will be recognized.
An ILIT offers distinct advantages compared with leaving a policy to be part of a taxable estate, but it is not the only option for life insurance planning. Alternatives include retaining ownership through a revocable trust or naming individual beneficiaries directly, which can be simpler but may not achieve the same tax or creditor protection goals. Choosing between options depends on estate size, family dynamics, state and federal tax considerations, and the client’s desire for control over distributions. A comparison that weighs administrative complexity, tax outcomes, and beneficiary protections helps determine the most appropriate approach.
A limited planning approach may be appropriate for individuals whose estates are not likely to trigger estate taxes or who have modest life insurance proceeds that will not materially affect estate tax liability. In such cases, retaining policy ownership while coordinating beneficiary designations and ensuring clear instructions in a will or revocable trust could provide adequate results without the additional steps required to form and fund an ILIT. This approach can reduce administrative complexity while still addressing basic distribution goals and ensuring beneficiaries have access to insurance proceeds as intended.
When life insurance coverage is intended only for a limited time horizon or to cover a short-term obligation, the costs and restrictions of an ILIT may outweigh its benefits. For example, if a policy will lapse or be replaced in the near term or if the insured plans to sell or change policies frequently, simpler ownership arrangements may provide more flexibility and lower administrative burden. In these cases, balancing the need for short-term flexibility against long-term estate planning goals guides whether a full ILIT is appropriate or whether interim arrangements suffice.
When an estate has substantial assets or involves holdings that could trigger estate tax exposure, the structure of life insurance ownership can be central to a coordinated tax mitigation plan. A comprehensive ILIT strategy helps move insurance proceeds outside the taxable estate, create liquidity for tax payments, and integrate with other instruments such as revocable living trusts, retirement plan trusts, or irrevocable gift arrangements. This broader planning reduces the chance of unexpected tax consequences and helps preserve the value of family wealth for intended beneficiaries over the long term.
If family relationships are complex or there are beneficiaries with special needs, creditor exposure, or concerns about spendthrift protection, a comprehensive ILIT can be structured to address those issues directly. Trust provisions can set conditions for distributions, provide ongoing oversight by a trustee, and coordinate with supplemental needs trusts or other protective arrangements. This layered planning can help ensure benefits are used for the intended purpose and that vulnerable beneficiaries receive support without jeopardizing public benefits or exposing proceeds to undue claims.
A comprehensive approach to ILIT planning delivers multiple benefits, including clearer control of distribution timing, stronger protection of proceeds from creditors, and enhanced certainty regarding tax treatment. By integrating the ILIT with the client’s broader estate plan, trustees and heirs are less likely to face conflicting instructions, unintended tax inclusion, or administrative surprises. The planning process also provides an opportunity to update beneficiary designations, coordinate with retirement accounts and pour-over wills, and document gift transactions so that the trustee can fulfill premium obligations without ambiguity.
In addition to tax and creditor considerations, a comprehensive ILIT strategy can be tailored to family priorities such as education funding, staged inheritances for younger beneficiaries, or protections for beneficiaries with unique circumstances. Proper funding, trustee selection, and clear drafting reduce the administrative burden on survivors and help ensure that life insurance proceeds serve their intended purpose in the event of the insured’s death. Periodic reviews as life circumstances change keep the plan aligned with current objectives and legal developments.
An ILIT can remove the life insurance proceeds from the insured’s gross estate when transfers and ownership changes are completed in a timely manner, providing potential estate tax mitigation. Beyond tax considerations, the trust supplies immediate liquidity to pay estate expenses, taxes, and debts, which can prevent the forced sale of business interests, real estate, or other illiquid assets. This liquidity preserves the estate’s long-term value and enables orderly distribution to beneficiaries without compounding financial pressure during probate or settlement.
A properly designed ILIT provides a mechanism to control how and when beneficiaries access proceeds, protecting funds from mismanagement, creditor claims, or external legal exposure. The trust document can establish distribution schedules, conditions for payments, and trustee discretion for managing payouts in a manner consistent with the grantor’s intentions. Such control is especially valuable for families with young beneficiaries, individuals with special needs, or situations where staged distributions and professional administration will preserve the financial legacy over time rather than delivering a large lump sum with uncertain outcomes.
Before transferring or issuing a policy into an ILIT, confirm the insurer’s procedures and any requirements for ownership changes. Some carriers require specific forms or have waiting periods before ownership transfers take effect. It is also important to verify whether the trust needs a tax identification number and to ensure beneficiary designations and trust language are consistent with the insurer’s records. Documenting the transfer and notifying relevant parties reduces administrative delays and helps preserve the intended estate and tax treatment of policy proceeds.
An ILIT should not be drafted in isolation; coordinate it with other estate documents such as revocable living trusts, pour-over wills, powers of attorney, and healthcare directives. An integrated review ensures beneficiary designations, account ownership, and trust provisions work together and prevents conflicts or unintended inclusions in the estate. Periodic reviews after major life events like marriage, divorce, births, or significant changes in assets help confirm that the ILIT still aligns with the client’s goals and with evolving tax and probate law.
Consider an ILIT when you want life insurance proceeds to be managed and distributed according to specific instructions, when preserving estate liquidity is a priority, or when reducing the potential estate tax exposure of large insurance proceeds is important. An ILIT can also be appropriate to provide structured support for beneficiaries who may benefit from trustee oversight or who have special needs that require careful planning to protect eligibility for government benefits. Families with business interests or real property may particularly benefit from the liquidity an ILIT can provide at death.
Other reasons to consider an ILIT include the desire to separate insurance proceeds from creditor exposure, to facilitate charitable gifts through life insurance planning, or to create a dedicated vehicle for paying estate settlement costs. For clients who wish to make long-term plans that extend beyond probate, the trust structure can provide precise distribution mechanisms and ongoing management by a trustee. A planning review identifies whether an ILIT is the most efficient solution given the client’s assets, family structure, and longer-term financial goals.
Common circumstances include significant life insurance policies that could increase estate tax exposure, business succession plans that require liquidity at death, blended family situations where clear distribution instructions are desired, and cases where beneficiaries have special needs or creditor concerns. Clients often pursue an ILIT when they want to direct how proceeds are used, protect inheritances from claims, or create a separate vehicle for insurance benefits that operates independent of probate or direct beneficiary designations. Each situation requires tailored drafting to address unique family and financial dynamics.
When life insurance proceeds are large relative to the insured’s overall estate, including those proceeds in the taxable estate can increase estate tax obligations. An ILIT can remove those proceeds from the estate if transfers are completed outside the look-back periods and ownership rights are relinquished. Proper planning and documentation help ensure the policy is treated separately and that premium funding is documented in a way that supports the intended tax treatment, thereby protecting more of the estate for heirs and reducing the likelihood of liquidity-driven asset sales after death.
Heirs sometimes face immediate obligations at death such as taxes, mortgage payments, or business expenses that require cash resources. An ILIT provides a dedicated source of liquidity that trustees can use to satisfy these obligations quickly, avoiding the need to liquidate assets under duress. By ensuring that life insurance proceeds are available outside the probate process and allocated according to the trust’s terms, families can address settlement costs efficiently and preserve other estate assets for longer-term distribution goals.
An ILIT can include provisions that reduce the risk that proceeds will be immediately accessible to creditors or subject to a beneficiary’s personal claims, by allowing the trustee to control distributions and impose conditions. This structure helps protect funds intended for long-term support, education, or care from being quickly consumed or claimed by outside parties. Careful drafting and trustee selection are essential to balance beneficiary protections with the family’s desire for meaningful access to funds when appropriate.
The Law Offices of Robert P. Bergman is available to assist Sylmar residents and nearby communities with ILIT planning and related estate documents. We provide clear explanations of how trust ownership, funding, and trustee duties interact, and we help clients take the practical steps necessary to implement their plans, including transfers of policy ownership and coordination with insurance carriers. Clients can expect careful document drafting, assistance with funding procedures, and guidance on appropriate trustee selection so that the trust fulfills its intended purpose at the time of need.
Clients work with our firm because we provide practical, client-focused guidance that aligns trust drafting with real-world administration needs. We pay attention to how insurers handle ownership transfers, how trustees will operate after the grantor’s death, and how the ILIT coordinates with other estate planning documents. Our goal is to produce clear, functional trust language that supports the client’s objectives while minimizing administrative friction for trustees and beneficiaries during an already difficult time.
Our process emphasizes thorough review and careful documentation so gift transactions and premium funding are recorded and executed in a way that supports the intended estate and tax outcomes. We assist with obtaining any necessary tax identification numbers for trusts, updating beneficiary designations in coordination with insurers, and preparing trustee acceptance forms. This level of detail helps preserve the anticipated benefits of the ILIT and reduces the risk of unintended estate inclusion or administrative complications for heirs.
We also provide ongoing review and maintenance services to keep the ILIT aligned with changes in the client’s family circumstances, assets, or applicable law. Life events such as births, deaths, marriages, or changes in financial position may require updates to trust provisions, trustee appointments, or funding strategies. Regular check-ins ensure the ILIT continues to deliver the desired protections and distribution results over time, and that all related documents remain coordinated for seamless administration.
Our legal process for ILIT matters begins with a detailed intake to understand assets, policies, family dynamics, and distribution goals, followed by a review of existing estate documents. We then prepare draft trust documents, coordinate the transfer or issuance of policies to the trust, and assist with trustee selection and training. After execution, we provide guidance on funding and recordkeeping so trustees can manage the policy and eventual proceeds properly. Periodic reviews help ensure the trust continues to meet its objectives as circumstances change.
The first step is a comprehensive consultation to review the client’s life insurance policies, beneficiary designations, financial accounts, and existing estate planning documents. We gather relevant records, including policy statements and trust or will documents, to identify any conflicts or coordination needs. This review also clarifies the client’s goals for distributions, asset protection, and tax planning. Clear communication at this stage allows us to outline available options and recommend practical next steps for creating or funding an ILIT that aligns with the broader estate plan.
We collect detailed information on current insurance policies, including ownership, premium schedules, and carrier requirements, along with a summary of financial accounts, property, and anticipated liabilities. We also discuss family relationships, intended beneficiaries, and any special circumstances such as beneficiaries who require ongoing support. This comprehensive fact-gathering ensures that the ILIT design matches the client’s financial reality and family dynamics, and helps identify any issues that could affect transfer timing or tax treatment.
After gathering information, we work with the client to prioritize planning objectives such as minimizing estate tax inclusion, providing immediate liquidity, or protecting proceeds from creditors. We discuss trustee options, distribution timing, and any conditions the client wishes to impose. Identifying these goals early guides the drafting process and ensures that trust provisions address both practical administration and the client’s long-term wishes, reducing the chance of later disputes or unintended outcomes.
The drafting phase produces a trust document that reflects the client’s instructions and coordinates with insurer requirements and related estate documents. Once the trust is executed, we assist in transferring existing policies or purchasing new policies owned by the trust, and we document any gifts used to fund premiums. This stage includes obtaining a taxpayer identification number for the trust if needed, updating policy ownership and beneficiary designations with the carrier, and providing guidance on recordkeeping for trustee use going forward.
Trust provisions are tailored to the client’s distribution goals, specifying trustee powers, timing of distributions, and any restrictions or conditions. We also prepare ancillary documents such as trustee acceptance forms, assignment instruments for existing policies, and notices that may be provided to beneficiaries to support annual exclusion gifting. Careful drafting ensures the trust meets legal requirements and works smoothly with insurer processes, reducing the risk that ownership or funding actions inadvertently defeat the intended estate planning benefits.
We coordinate directly with carriers as necessary to change policy ownership and update beneficiary designations to the trust, ensuring the insurer’s procedures are satisfied. Funding documentation is important, so we help record gifts used to pay premiums and advise on annual exclusion strategies that can limit gift tax consequences. These administrative steps create the record trail trustees will need to demonstrate that the trust was properly funded and that premium payments were authorized under applicable gifting rules.
After the trust is funded and the policy is owned by the ILIT, trustees administer premium payments, maintain records, and follow distribution instructions when the policy matures or a claim is paid. We assist trustees with claims filing and any tax reporting requirements. Ongoing trust maintenance includes periodic reviews, amendments to related documents where appropriate, and advice on successor trustee transitions so the ILIT continues to operate as intended and remains effective in meeting the grantor’s long-term objectives.
When the insured dies, the trustee files the claim with the insurer, collects proceeds, and then administers distributions in accordance with the trust terms. This can include immediate payments for estate expenses, structured distributions to beneficiaries, or funding of other trusts. Proper documentation and adherence to the trust’s provisions help reduce disputes and ensure beneficiaries receive their share in a manner consistent with the grantor’s intentions. Trustees may also coordinate with tax advisors or accountants to address any reporting obligations.
Life changes such as births, marriages, deaths, or changes in financial circumstances can affect the ILIT and the larger estate plan, so periodic review is advisable. While the ILIT itself is generally irrevocable, related documents or beneficiary intentions may be updated to reflect new circumstances through coordination with other estate instruments. Regular check-ins ensure that the trust’s funding strategy, trustee arrangements, and integration with other planning tools remain effective and aligned with the client’s goals over time.
An irrevocable life insurance trust is a trust created to hold life insurance policies so that the proceeds are distributed according to the trust terms rather than through the decedent’s estate. The trust owns the policy, the trustee pays premiums, and beneficiaries receive proceeds as directed by the trust document. Because the grantor typically gives up ownership and control over the policy, an ILIT can keep proceeds outside of the grantor’s taxable estate when transfers and funding meet timing and legal requirements. Creating an ILIT involves drafting the trust, executing ownership transfers or purchasing a new policy in the trust’s name, documenting any gifts used to fund premiums, and coordinating with the insurer for ownership and beneficiary updates. Trustees must maintain records and fulfill administration duties at the time of death to ensure distributions occur as intended. Careful planning at each step helps achieve the trust’s goals and reduces the risk of unintended tax or administrative issues.
An ILIT can keep life insurance proceeds out of the insured’s taxable estate if the transfer of ownership is completed in a way that eliminates incidents of ownership and if the policy is not subject to a short-term look-back rule. There is typically a period during which transfers may still be included in the estate, so timing and documentation are important. Proper transfer and administration aim to separate the policy from the insured’s estate for tax purposes. It is important to coordinate the ILIT with the overall estate plan and to ensure gift transactions used to fund premiums are documented and follow applicable annual exclusion rules. A trustee who maintains clear records, files any required tax forms, and follows trust provisions supports the desired treatment. A planning review with attention to timing and ownership details helps reduce the likelihood that proceeds will be treated as part of the estate.
Trustees can be trusted family members, friends, professional fiduciaries, or corporate trustees, depending on the complexity of the trust administration and the client’s confidence in the chosen person or entity. Beneficiaries are typically family members, charitable organizations, or other named persons or entities who will receive proceeds under the trust terms. The choice of trustee should reflect the administrative tasks required, such as premium payments, insurer communications, and recordkeeping. When naming beneficiaries, consider staging distributions or imposing conditions to protect against premature dissipation of funds, creditor claims, or threats to eligibility for public benefits for vulnerable beneficiaries. Trustees should be provided with clear powers and successor trustee provisions to ensure continuity. Thoughtful selection of trustees and beneficiaries supports orderly administration and aligns with the grantor’s long-term intentions.
An ILIT is commonly funded either by transferring an existing life insurance policy into the trust or by providing funds to the trust to purchase a new policy. If the trust makes gifts to pay premiums, those gifts should be documented and may qualify for the annual gift tax exclusion if proper notice and Crummey-type withdrawal powers are used. Funding also involves obtaining a taxpayer identification number for the trust in some cases and updating insurer records to show the trust as owner. Common funding issues include failure to document gifts properly, delays in transferring ownership with the insurer, or retention of certain policy rights by the grantor that unintentionally keep the policy in the estate. Coordination with the insurer, careful recordkeeping, and attention to the timing of transfers and gifts help prevent these problems and preserve the intended benefits of the trust.
By design, an ILIT is generally irrevocable meaning the grantor cannot easily change or revoke it after it is established. This permanence is what allows the policy to be treated separately from the grantor’s estate in many cases. Because of the irreversible nature, the decision to create an ILIT should be made with careful consideration and coordination with other estate planning objectives. Although the ILIT itself is typically irrevocable, related planning steps can sometimes be adjusted through coordination with other estate documents or by creating additional, complementary vehicles. Periodic review of the overall estate plan is advisable to ensure that the irrevocable arrangement continues to align with family needs and financial goals, and to make updates where permissible in other parts of the plan.
Crummey powers and notices refer to a technique used to preserve the annual gift tax exclusion when gifts to a trust are made to pay premiums. Under this approach, beneficiaries are given a limited-time right to withdraw contributions, and they receive notices informing them of that right. If beneficiaries do not exercise the withdrawal right, the gift is typically treated as a present interest and may qualify for the annual exclusion. The use of Crummey powers requires careful drafting and timely notices so trustees can demonstrate that gifts were properly treated for tax purposes. Trustees must track these notices and maintain documentation. While useful, this method adds administrative steps, so clients should understand the benefits and recordkeeping responsibilities before using it.
An ILIT should be coordinated with retirement accounts, wills, and revocable trusts to ensure beneficiary designations and distribution mechanics work together. For example, retirement accounts pay directly to named beneficiaries unless a trust is named, so aligning designations with trust provisions prevents unintended distributions or estate inclusion. A pour-over will may be used to move certain assets into a revocable trust, while the ILIT remains a separate vehicle for insurance proceeds to meet liquidity and tax planning goals. Coordination also reduces the likelihood of conflicting instructions among documents and simplifies administration for trustees and executors. Regular review helps ensure that changes made to retirement accounts, property ownership, or other estate instruments do not unintentionally interfere with the ILIT’s operation or tax treatment.
There are ongoing costs associated with maintaining an ILIT, which can include trustee compensation, administrative fees, tax return preparation for the trust if required, and recordkeeping expenses. Premium payments for the underlying policy are a regular obligation, and the trust must have a reliable method of funding these payments. The source of funding is typically gifts to the trust or other trust assets designated for premium payment. Who bears these costs depends on the trust provisions and the funding strategy. In many cases the grantor funds premium gifts during life, but successor trustees may need to manage administrative costs after death. Clear provisions regarding trustee compensation and expense reimbursement help avoid conflicts and ensure the trust remains properly funded for ongoing obligations.
The time to set up an ILIT varies based on whether a new policy is issued or an existing policy is transferred, the insurer’s processing times, and the complexity of the trust provisions. Drafting and execution of the trust documents can often be completed in a matter of weeks, but coordination with the insurance company for ownership changes or policy issuance may extend the timeline. If a transfer is involved, carriers may require certain forms and may have waiting periods that affect timing. Clients should begin the process well before any anticipated deadlines and allow time for funding documentation, acquisition of a tax ID for the trust if needed, and any required notices to beneficiaries. Early planning helps avoid rushed decisions and ensures that ownership changes and gifts are completed in a way that supports the intended estate and tax treatment.
To begin creating an ILIT with the Law Offices of Robert P. Bergman, contact our office to schedule an initial consultation. During this meeting we review your existing insurance policies, estate documents, and planning objectives, and we outline the steps to draft and fund the trust. We will explain insurer coordination, trustee selection, and the documentation needed to support premium funding and tax objectives so you have a clear plan for implementing the trust. After the initial review we prepare tailored trust documents, assist with any necessary transfers or policy purchases, and provide guidance on recordkeeping and trustee responsibilities. We also offer follow-up review services to ensure the ILIT and related estate documents remain aligned with changing circumstances and goals over time.
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