An Irrevocable Life Insurance Trust (ILIT) can be a powerful component of a careful estate plan for residents of Sky Valley and surrounding Riverside County communities. This page explains how an ILIT works, the potential benefits for preserving life insurance proceeds, and how it can help manage taxes and provide for beneficiaries over the long term. The Law Offices of Robert P. Bergman prepares tailored documents such as revocable living trusts, wills, powers of attorney, and ILIT arrangements to fit each client’s family, financial, and legacy goals. Contact information and next steps are presented so you can make an informed choice about whether an ILIT is a good fit.
Choosing to establish an Irrevocable Life Insurance Trust involves careful consideration of timing, ownership, and funding of life insurance policies. When an ILIT is properly drafted and funded, life insurance proceeds can be managed outside of your probate estate and can be directed to beneficiaries under the terms you set. That control helps families maintain privacy and can create structured distributions for heirs, minors, or individuals with special needs. Our approach is focused on clear explanations, practical documents like pour-over wills and trust certifications, and helping clients complete funding steps so the trust functions as intended when it matters most.
An Irrevocable Life Insurance Trust matters because it provides a way to remove life insurance proceeds from an estate for planning purposes while allowing precise control over distribution. An ILIT can protect proceeds from probate and help preserve benefits for intended recipients through trustee management and distribution instructions. It can also be structured to address potential tax considerations, provide liquidity for estate obligations, and offer sustained financial support for dependents. Establishing an ILIT typically requires careful coordination with existing estate documents, beneficiary designations, and retirement accounts to make sure your overall plan aligns with your objectives and state law.
The Law Offices of Robert P. Bergman provides estate planning services to individuals and families throughout California, including Sky Valley and Riverside County. Our practice helps clients prepare documents commonly used in comprehensive plans, including revocable living trusts, wills, financial powers of attorney, and irrevocable life insurance trusts. We emphasize clear communication, practical drafting, and careful attention to funding steps so trust provisions function as intended. Clients receive personalized guidance about available trust structures, how different assets interact with an ILIT, and the procedural steps needed to transfer ownership and fund the trust in a way that supports their legacy and family priorities.
An Irrevocable Life Insurance Trust is a legal arrangement that holds life insurance policies for the benefit of named beneficiaries under terms you set at the time the trust is created. Because the trust is irrevocable, the grantor typically gives up ownership and control of the policy, which affects rights and possible tax treatment. The trustee manages the policy, handles premium payments if the trust owns the policy, and administers distributions after the insured’s death according to the trust terms. Establishing an ILIT involves drafting the trust document, naming trustees and beneficiaries, and completing the legal steps required to transfer ownership or assign policies to the trust.
An ILIT must be funded and administered carefully to achieve its intended goals. Funding can involve transferring an existing policy to the trust or having the trust be the owner and beneficiary at the time a new policy is issued. Timing matters because transfers made shortly before death can be treated differently for estate inclusion. Trustees must track premium payments, manage trust accounts, and follow distribution instructions while keeping records. Coordinating an ILIT with beneficiary designations, retirement plan accounts, and other estate planning devices like pour-over wills helps ensure that your estate plan functions holistically and reflects your intentions for beneficiaries.
An Irrevocable Life Insurance Trust is a trust created to own and control one or more life insurance policies. The trust has its own tax identification number, trustee, and provisions that dictate how proceeds are to be used after the insured’s death. The grantor makes an irrevocable transfer of ownership or causes the trust to be the owner at policy issuance. Because the trust owns the policy, proceeds pass to the trust and are then distributed to beneficiaries per the trust’s terms, allowing for structured distributions, creditor protection in some cases, and estate planning flexibility. Proper drafting and funding are necessary to realize the intended benefits.
Key elements of an ILIT include the trust document, appointment of trustee and successor trustees, beneficiary designations, funding instructions, and trustee powers to manage insurance policies and trust assets. Typical processes begin with an intake meeting to identify goals and existing policies, drafting the trust document, naming the trust as owner or transferring ownership, obtaining a tax identification number for the trust if required, and ensuring funds are available for premium payments. Ongoing administration involves recordkeeping and communication with beneficiaries and financial institutions to maintain the trust according to California law and the grantor’s objectives.
Understanding the terms used with an Irrevocable Life Insurance Trust helps clients make informed decisions. This section explains common vocabulary such as grantor, trustee, beneficiary, funding, and ownership transfer so you can better understand documents and conversations during the planning process. Clear definitions reduce confusion and help ensure your intentions are properly reflected in trust provisions. If you have questions about how a term applies to your situation, a focused discussion about assets, family relationships, and timing will clarify whether an ILIT or other planning tool best meets your needs.
The grantor, also called the settlor, is the person who creates the trust and transfers assets or policies into it. For an ILIT, the grantor typically signs the trust document and arranges for the trust to be named as owner or beneficiary of a life insurance policy. Once the trust is irrevocable, the grantor generally gives up the ability to unilaterally revoke or change the trust terms, which is an important consideration in planning. Selecting a grantor’s intentions and communicating them through clear drafting helps ensure the trust aligns with long-term goals for beneficiaries and legacy planning.
The trustee is the individual or institution appointed to manage the trust assets, including any life insurance policies owned by the trust. The trustee’s responsibilities typically include managing premium payments, keeping records, filing tax returns for the trust if required, and making distributions to beneficiaries according to trust provisions. Trustees must act according to the trust document and applicable law. Naming a successor trustee and providing clear guidance within the trust document helps maintain continuity and reduces the likelihood of disputes during administration.
A beneficiary is a person or entity designated to receive benefits from the trust, such as life insurance proceeds or income generated by trust assets. In an ILIT, beneficiaries can be family members, descendants, charities, or other entities, and the trust document can establish conditions or schedules for distributions. Thoughtful beneficiary designations and trust provisions allow a grantor to provide support for minors, individuals with disabilities, or those who may need structured financial management. Proper coordination between policy beneficiary designations and trust terms prevents unintended outcomes.
Funding an ILIT typically involves making the trust the owner of the insurance policy or transferring ownership of an existing policy to the trust. This process requires paperwork with the insurance company, possible assignment forms, and attention to timing to avoid estate inclusion issues. If the transfer occurs shortly before the insured’s death, special rules may apply that affect whether the proceeds remain outside the estate. Funding may also involve contributing cash to the trust to pay future premiums or arranging gifts to beneficiaries to cover premium costs through annual exclusion gifts or other means.
When deciding between a limited approach and a comprehensive estate plan, consider the scope of your assets, family circumstances, and long-term goals. A limited approach might address one specific need, such as drafting a will or naming a power of attorney, while a comprehensive plan coordinates trusts, beneficiary designations, and asset transfers to achieve broader objectives. An ILIT can be incorporated into either path but is often most effective when considered alongside a complete plan that covers probate avoidance, incapacity planning, and tax implications. Discussing all assets and beneficiaries together helps ensure consistency and avoid conflicts between documents.
A limited approach may be appropriate if your asset ownership is straightforward, your beneficiaries are able to manage inheritances independently, and you primarily need one or two documents to address immediate concerns. For example, if you hold few assets and do not own complex accounts or multiple properties, drafting a will and powers of attorney might provide adequate protection. In such cases, the administrative burden and costs associated with creating and funding multiple trusts may outweigh the benefits. However, even with simple circumstances, discussing whether an ILIT adds value for life insurance proceeds can be worthwhile.
A limited plan can also be sensible when you or your family prefer minimal ongoing administrative obligations and the cost of managing a trust would be disproportionate to the anticipated benefit. Irrevocable trusts require administration and recordkeeping, so if life insurance proceeds are modest and beneficiaries do not need structured distributions, a simpler arrangement may be better. That said, it is important to evaluate the potential probate implications, tax considerations, and the impact of beneficiary designations before choosing a minimal path to ensure your goals are still achieved without unintended consequences.
A comprehensive approach that includes an ILIT is often advisable when life insurance proceeds are substantial relative to the rest of an estate, or when you need to coordinate multiple asset types and beneficiary designations. Incorporating an ILIT into an overall plan helps ensure that insurance proceeds are managed consistently with a revocable living trust, retirement accounts, and other estate documents. This coordinated planning reduces the risk of conflicting instructions, provides for orderly distribution, and helps implement strategies to preserve wealth for future generations while addressing liquidity needs at the time of death.
Choosing a comprehensive plan is also appropriate when family circumstances suggest a need for structured distributions, protection for vulnerable beneficiaries, or provisions for long-term care and special needs. An ILIT allows the grantor to direct how life insurance proceeds are used—such as funding education, supporting dependents, or providing staggered distributions—while a broader estate plan aligns those decisions with wills, guardianship nominations, and trust amendments. This approach ensures that a single coherent plan governs assets and reduces the potential for disputes after the grantor’s death.
A comprehensive estate plan that includes an ILIT may provide multiple benefits, including enhanced control over life insurance proceeds, potential estate tax planning advantages, and the ability to create structured distributions for beneficiaries. Combining an ILIT with other planning tools like revocable living trusts, pour-over wills, and powers of attorney promotes consistency across documents and helps avoid unintended conflicts among beneficiary designations. The planning process also creates opportunities to address incapacity planning and guardianship nominations, ensuring that personal and financial affairs are managed according to your wishes if you become unable to act.
Beyond distribution control, an ILIT can help provide liquidity for estate settlement expenses and can be crafted to work alongside retirement plan trusts and tax-aware strategies. Proper coordination can reduce the administrative burden on survivors and support long-term family goals. When trustees are given clear powers and responsibilities, beneficiaries receive timely information and the grantor’s intentions are more likely to be fulfilled. The result is a more predictable transition of wealth that reflects careful planning and legal documentation tailored to your family and financial situation.
One primary benefit of an ILIT within a comprehensive plan is precise control over how and when life insurance proceeds are distributed. The trust document can set conditions, stagger distributions, or create trust-funded benefits that respond to changing family needs. This level of control helps protect beneficiaries from sudden windfalls that could be mismanaged and provides the grantor with confidence that support will be available for education, healthcare, or ongoing care. Clear distribution rules reduce ambiguities and help trustees administer assets consistently with the grantor’s intent.
An ILIT can be an effective tool for coordinating estate planning and addressing potential tax considerations when part of a larger estate plan. By owning life insurance policies through an irrevocable trust, there can be opportunities to exclude proceeds from the grantor’s taxable estate under certain circumstances and to provide liquidity to cover estate settlement costs. Coordination with other planning documents like retirement plan trusts and revocable living trusts ensures that overall objectives—such as preserving assets for beneficiaries and managing tax exposure—are addressed in a unified and practical manner.
Begin ILIT planning early to avoid timing pitfalls that can affect whether life insurance proceeds stay outside of your probate estate. Transferring an existing policy or creating a new policy owned by the trust requires paperwork and may involve waiting periods or rules that impact estate inclusion. Starting early also allows for coordination with beneficiary designations, revocable trust provisions, and retirement accounts so that all documents align with your goals. Early planning gives you time to arrange funding or gifting strategies to ensure premiums are paid and the trust performs as intended at the time of need.
Work directly with insurance carriers to complete ownership transfers and beneficiary changes in compliance with company procedures so the policy is properly held by the trust. Coordinate with financial advisors to align funding plans for premiums and evaluate whether the policy’s terms and cost align with your long-term goals. Confirming carrier requirements and documenting the transfer reduces the risk of administrative issues later. Regular review of the trust and policy terms ensures the arrangement remains appropriate as family circumstances and financial needs evolve over time.
Consider an ILIT if you own life insurance with proceeds that you want managed separately from your probate estate, or if you wish to provide structured, long-term support to beneficiaries. An ILIT helps provide clear distribution instructions, potential estate planning advantages for larger policies, and a mechanism to provide liquidity for settlement costs. It can also protect proceeds from direct probate administration and create conditions tailored to beneficiaries’ circumstances. Discussing your goals early helps determine whether an ILIT aligns with overall estate planning and family objectives.
An ILIT may be particularly valuable for individuals who want to ensure that life insurance proceeds are used for specific purposes, such as funding education, providing ongoing support for dependents, or preserving assets for future generations. It also fits situations where avoiding probate and maintaining privacy surrounding policy proceeds is important. Because establishing an ILIT involves binding decisions, professional guidance helps you understand trade-offs and coordinate the trust with wills, powers of attorney, and other documents to create a consistent and actionable plan.
Typical circumstances that lead individuals to consider an ILIT include owning significant life insurance policies, wanting to control distributions to heirs, needing to provide for special needs or minor beneficiaries, and desiring a mechanism to reduce estate-related complications. Family dynamics such as blended families, beneficiaries who require oversight, or concerns about creditor claims can also make an ILIT attractive. Each situation requires tailored review to ensure the trust structure and funding method achieve the intended protection and distribution goals without unintended tax or legal consequences.
When life insurance proceeds represent a significant portion of an estate’s value, using an ILIT can help manage distribution and address estate liquidity needs. The trust’s ownership of the policy separates proceeds from probate and allows specific direction about how funds are used. This separation can reduce administrative burdens for survivors and provide a reliable source of funds for estate settlement, debts, or ongoing support for beneficiaries. Properly funding and documenting the transfer is an essential step to achieve these outcomes and avoid unintended estate inclusion.
An ILIT is useful when beneficiaries include minors, individuals with disabilities, or those who may need assistance managing assets. The trust can define distributions for education, health needs, and living expenses while protecting proceeds from mismanagement or external claims. Including clear standards and oversight in the trust document allows trustees to act in beneficiaries’ best interests while following the grantor’s instructions. Coordinating an ILIT with other planning tools like special needs trusts or guardianship nominations enhances protection and creates a coherent plan for vulnerable family members.
An ILIT may be considered as part of broader estate tax planning and to provide immediate liquidity for estate settlement costs. By holding life insurance policies in an irrevocable trust, proceeds may be separated from the grantor’s probate estate under appropriate conditions, offering a potential avenue for preserving wealth for beneficiaries. The trust can provide timely funds to pay taxes, debts, or final expenses so that other estate assets do not need to be liquidated in haste. Careful drafting and timely transfers are necessary to realize these planning goals.
The Law Offices of Robert P. Bergman serves clients in Sky Valley, Riverside County, and throughout California with estate planning needs that include irrevocable life insurance trusts. We assist individuals in assessing whether an ILIT fits their financial and family goals, preparing trust documents, coordinating transfers and beneficiary designations, and advising on funding strategies. Our practice provides practical guidance for the administrative steps trustees must follow so that policies remain effective and distributions follow the grantor’s intentions. Contact us to arrange a confidential discussion about your situation and planning options.
Our firm focuses on providing clear, client-focused estate planning guidance that addresses the needs of Sky Valley residents and families across Riverside County. We draft documents such as irrevocable and revocable trusts, pour-over wills, certification of trust, and powers of attorney designed to work together. We prioritize transparent communication about procedural steps, potential timing concerns, and coordination with insurance companies. Clients receive practical assistance with completing forms, naming trustees and beneficiaries, and arranging funding so the documents serve their intended purpose when needed.
We also help clients coordinate an ILIT with other estate planning tools such as retirement plan trusts, special needs trusts, and guardianship nominations. That coordination reduces inconsistencies among documents and supports a unified plan for distributing assets and providing for dependents. Our approach includes reviewing existing policies and beneficiary designations, advising on funding strategies, and preparing petitions or trust modifications when circumstances change. This comprehensive view helps clients feel confident that their planning reflects both present needs and future contingencies.
Clients working with our office receive straightforward explanations about the implications of irrevocable trusts, including ownership transfer mechanics and trustee responsibilities. We assist with the administrative tasks required to implement an ILIT and offer ongoing support to ensure the trust remains aligned with changing family dynamics and financial circumstances. For residents who prefer in-person or remote meetings, we arrange consultations that respect privacy and focus on actionable steps to implement a trust suited to each family’s priorities.
Our process begins with a confidential intake meeting to identify goals, existing policies, family dynamics, and desired outcomes. We then prepare a draft trust document that reflects your instructions, coordinate with insurance carriers to effect ownership transfers if needed, and advise on funding mechanisms for premium payments. After the trust is signed and funded, we provide clients and trustees with a checklist for administration and recordkeeping. Periodic review ensures the arrangement continues to match your objectives as family or financial circumstances change.
During the initial consultation we review existing estate planning documents, life insurance policies, beneficiary designations, and your broader objectives for legacy and family support. This information-gathering phase helps determine whether an ILIT aligns with your goals, how to handle funding, and what trustee powers are appropriate. We will explain implications of transferring policy ownership to a trust, discuss timing concerns that could affect estate inclusion, and outline the documentation required from insurance carriers and financial institutions to implement the plan.
We carefully review current estate planning documents, life insurance policies, and beneficiary designations to identify potential conflicts or gaps. That review ensures that an ILIT will integrate with your revocable living trust, pour-over will, retirement plan trust provisions, and powers of attorney. Assessing ownership and beneficiary forms helps us determine whether policies should be transferred or newly issued to the trust. This proactive review reduces the risk of unintended results and helps establish a coordinated plan for asset distribution and administration.
We discuss trustee selection, successor trustees, and funding strategies to make sure the trust can cover premium obligations and operate according to your directions. This conversation addresses whether to name family members or an institutional trustee, how to provide for premium payments via trust contributions or annual exclusion gifts, and which provisions will guide distributions. Practical planning at this stage simplifies the funding process and prepares trustees for their administrative responsibilities after the trust is in effect.
After deciding on the trust structure and trustee provisions, we draft the ILIT document and related forms, including assignments and certification of trust where needed. The drafting ensures that the trust contains clear distribution instructions, trustee powers, and successor trustee arrangements. Execution typically requires signing the trust in accordance with California formalities and completing assignment or ownership transfer paperwork with the insurance carrier. Accurate execution and documentation are essential to ensure the trust functions as intended upon the insured’s passing.
We prepare the trust instrument and any necessary assignment or change-of-owner forms so the insurance carrier recognizes the trust as owner or beneficiary. The documents spell out trustee duties, distribution rules, and instructions for premium funds. We also prepare supporting documents like certification of trust for financial institutions to limit disclosure of sensitive trust terms while confirming trustees’ authority. Clear paperwork and careful attention to carrier requirements reduce administrative friction and help ensure the trust’s effectiveness.
Execution of the trust and related documents follows California legal formalities, which may include signatures, notarization, and witness requirements depending on the document. We guide clients through signing and help provide properly completed documents to insurance companies and financial institutions. Maintaining a complete set of executed originals and providing trustees with copies facilitates administration and reduces delays when claims or distributions arise. Proper execution is a key step in confirming the trust’s validity and readiness.
Once the trust is executed, funding and ongoing administration are essential. Funding can include transferring policy ownership, contributing funds for premiums, or coordinating gifts to the trust for premium payments. Trustees should maintain records, manage premium payments, and follow distribution instructions. Regular reviews of the trust and related estate documents ensure the arrangement remains appropriate as life changes occur. Periodic updates to beneficiary designations on other accounts and communication with financial advisors help keep the overall plan aligned.
Funding the ILIT properly may involve transferring existing policies, issuing new policies to the trust, and arranging trustee access to funds for premium payments. Methods of funding include gifting funds to the trust or coordinating annual exclusion gifts from the grantor to beneficiaries to cover premium obligations. Trustees must also keep clear records of payments and transactions. Addressing funding at the outset reduces the chance of disputes and helps ensure the trust remains a reliable vehicle for providing the benefits you intended for beneficiaries.
Ongoing administration includes recordkeeping, tax filings if required, and communication with beneficiaries. Trustees should review policy performance and trust assets periodically and coordinate with financial professionals to address changes in family circumstances, tax laws, or estate size. Periodic review meetings help identify whether amendments to other estate documents are needed or whether different funding strategies should be adopted. Keeping the trust documents and related planning current supports long-term success and avoids surprises when the time comes to administer the trust.
An Irrevocable Life Insurance Trust is a trust created to own and manage one or more life insurance policies for the benefit of named beneficiaries. The trust document outlines how proceeds will be used and who will serve as trustee to manage policy obligations and distributions. The irrevocable nature means the grantor typically gives up direct control over the policy after transfer, which can accomplish goals such as removing proceeds from the probate estate and providing structured support for heirs. You should consider an ILIT when you want to control how life insurance proceeds are distributed, provide liquidity for estate settlement costs, or protect proceeds from probate administration. The decision depends on the size of the policy, family needs, and coordination with existing estate documents, beneficiary designations, and retirement accounts. A careful review of timing and funding steps is important to ensure the ILIT functions as intended.
Funding an ILIT can occur by transferring ownership of an existing policy to the trust or issuing a new policy where the trust is named as owner and beneficiary. If an existing policy is transferred, the insurance company’s required forms must be completed and the trust must be properly identified. The grantor or other donors may gift funds to the trust to cover premium payments, or beneficiaries may be given distributions earmarked for premiums through annual exclusion gifts. Premium payment arrangements should be established at the outset to avoid policy lapse. Trustees are responsible for managing premium payments and maintaining trust records. Discussing funding strategies and timing with legal and financial advisors helps ensure the trust remains adequately funded and achieves the grantor’s objectives.
Because an ILIT is irrevocable, the grantor generally cannot unilaterally revoke or change the trust’s terms after it is executed. That permanence is part of why an ILIT is used for certain estate planning goals. However, there are limited situations where modification or decanting may be possible under California law, or where a court petition can be pursued to address specific problems. Those options require careful legal review and are not the same as simply revoking the trust. Given the limited ability to change an ILIT, careful planning before execution is essential. Discussing trustee powers, successor trustee appointments, and contingency provisions helps create a durable document. Periodic reviews of related estate documents ensure the ILIT remains consistent with your broader plan, even if the trust itself is not easily altered.
An ILIT can influence estate administration by removing policy proceeds from the grantor’s probate estate when ownership is transferred properly and timing rules are observed. This separation can help provide liquidity and preserve privacy by keeping proceeds out of the public probate record. Whether proceeds are excluded from the estate for tax purposes depends on timing and ownership details, so meticulous coordination is required to achieve intended tax outcomes. Probate and potential estate tax implications vary depending on asset ownership and transfers made before death. Working with counsel to time transfers and align beneficiary designations and trust terms helps clarify how an ILIT will interact with other estate planning measures and the possible impact on estate taxes and probate proceedings.
When naming a trustee, consider someone who is organized, trustworthy, and able to manage administrative duties such as premium payments and recordkeeping. Some clients appoint a family member or trusted friend, while others select a professional or institutional trustee to handle complex administration. Naming successor trustees is important to ensure continuity if the original trustee is unable or unwilling to serve. Compensation for trustees can be set in the trust document and may be appropriate when duties are significant. Clear instructions regarding trustee powers, decision-making authority, and compensation reduce the potential for disputes and provide guidance for managing distributions and communications with beneficiaries.
Transferring a life insurance policy to an ILIT generally requires completion of assignment forms or change-of-owner paperwork provided by the insurance carrier, along with a copy of the executed trust document or a certification of trust. The carrier will need information to update policy ownership and beneficiary designations to reflect the trust. It is important to follow the carrier’s procedures precisely to ensure the transfer is recognized. Additionally, the trust should obtain a tax identification number if necessary and trustees should keep records of the transfer. Timing is important because transfers made within a specified period before death may be treated differently for estate inclusion purposes, so planning ahead avoids unintended results.
An ILIT typically holds life insurance policies, while retirement accounts such as IRAs and 401(k)s are governed by beneficiary designations that operate outside of the trust unless coordinated. If retirement accounts are designated to a trust, careful drafting is required to address tax and distribution consequences. Coordinating beneficiary designations with the ILIT and other trusts helps ensure consistent distribution and avoids conflicts between documents. Reviewing all beneficiary designations and integrating retirement accounts into your broader estate plan prevents surprises. In many cases, a tailored retirement plan trust or coordination with a revocable living trust will be necessary to achieve the grantor’s intent and manage tax and distribution issues effectively.
If the ILIT lacks sufficient funds to pay premiums, the policy could lapse, which may defeat the planning purpose of the trust. To prevent this outcome, funding strategies should be established before the trust is executed, such as making gifts to the trust for premium payments or arranging annual exclusion gifts to beneficiaries who then transfer funds to the trustee. Trustees must monitor payments closely and communicate with grantors or beneficiaries about funding needs. Contingency provisions in the trust can specify the trustee’s authority to borrow or use trust assets to cover premiums, but such measures should be considered carefully as they can affect the trust’s operation and potential tax consequences. Planning ahead helps avoid interruptions in coverage.
An ILIT can be structured to provide for minors or beneficiaries with special needs by setting distribution terms that support education, healthcare, and living expenses while protecting eligibility for public benefits. For beneficiaries with disabilities, coordinating an ILIT with a special needs trust or other protective arrangements can preserve access to government programs while supplementing care with trust funds. Precise drafting and clear trustee instructions are essential to achieve these goals without inadvertently affecting benefit eligibility. When minors are beneficiaries, the trust can impose age-based or milestone-triggered distributions to provide staged support and reduce the risk of imprudent spending. Selecting a trustee who understands the family’s needs and providing guidance within the trust improves the likelihood that funds will be used as intended.
You should review your ILIT and related estate documents periodically or after major life events such as marriage, divorce, birth, death, or significant changes in assets. Regular review ensures that trustee appointments, beneficiary designations, and funding arrangements remain aligned with your current circumstances and goals. Laws and tax rules can change, and periodic review allows adjustments to related documents where permitted without altering the irrevocable trust itself. While an ILIT is typically not easily revoked, coordinating updates to revocable trusts, wills, powers of attorney, and beneficiary forms ensures a consistent overall plan. Discussing potential changes with counsel helps you understand which documents can be updated and what steps are necessary to maintain the plan’s effectiveness.
Criminal Defense
Homicide Defense
Manslaughter
Assault and Battery
Assault with a Deadly Weapon
Battery Causing Great Bodily Injury
Domestic Violence
Domestic Violence Protection Orders
Domestic Violence Restraining Order
Arson Defense
Weapons Charges
Illegal Firearm Possessions
Civil Harassment
Civil Harassment Restraining Orders
School Violence Restraining Orders
Violent Crimes Defense
Estate Planning Practice Areas