An Irrevocable Life Insurance Trust (ILIT) can be a powerful component of a thoughtful estate plan for families in Harbison Canyon and throughout San Diego County. This guide explains how an ILIT helps manage life insurance proceeds outside of your taxable estate and provides for beneficiaries according to your wishes. At the Law Offices of Robert P. Bergman, our focus is on clear, practical planning tailored to California law and local conditions. We help clients understand the process, timing, and long-term implications so they can make informed decisions that protect family assets and provide for future needs.
Deciding whether an ILIT is appropriate for your situation depends on factors such as policy ownership, estate size, family dynamics, and long-term objectives. An ILIT is designed to hold life insurance policies, receive proceeds, and distribute benefits to named beneficiaries under terms you set. Beyond tax considerations, ILITs can preserve proceeds from creditors, control distributions for younger or vulnerable beneficiaries, and coordinate with other trust instruments like pour-over wills or retirement plan trusts. We outline the steps, typical timelines, and practical considerations so you can evaluate whether including an ILIT in your estate plan makes sense for you and your family.
An ILIT can bring several important benefits to an estate plan, particularly where life insurance proceeds represent a significant asset. By removing the policy from your taxable estate, an ILIT can reduce estate tax exposure and help preserve family wealth for the people you intend to benefit. It also creates a framework for managing payouts, offering protections from creditors and ensuring funds are used in ways you specify. When combined with other estate planning documents like financial powers of attorney and advance health care directives, an ILIT supports continuity, financial security for dependents, and peace of mind for the grantor and beneficiaries.
The Law Offices of Robert P. Bergman has assisted clients across San Jose and San Diego County with estate planning matters including trusts, wills, and elder care related documents. Our approach emphasizes personalized planning, clear communication, and compliance with California trust and probate rules. We guide clients through selecting trust terms, funding strategies, and coordinating related documents like certification of trust and pour-over wills. Whether you are establishing a revocable living trust and complementing it with an ILIT, or creating targeted trusts such as special needs or pet trusts, we help shape plans that reflect your priorities and family circumstances.
An Irrevocable Life Insurance Trust is a trust that owns and controls life insurance policies for the benefit of designated beneficiaries. Once established and funded, the trust becomes the legal owner of the policy, and the grantor cannot change ownership without potentially adverse tax consequences. This structure aims to exclude the policy proceeds from the grantor’s taxable estate, depending on timing and proper setup. Setting up an ILIT requires careful drafting, clear beneficiary designations, and coordination with premium funding arrangements to ensure the trust receives and manages contributions as intended.
Key considerations when establishing an ILIT include who will serve as trustee, how premiums will be paid to avoid inclusion in the grantor’s estate, and how distributions will be handled when proceeds become available. The grantor typically makes gifts to the trust to cover premiums, often using annual gift tax exclusions or other gifting strategies. Proper administration is important to preserve the intended tax and asset protection outcomes. Effective planning also anticipates changes such as policy replacements, trust modifications, or life events that could affect the trust’s operation and objectives.
An ILIT is a legally binding trust that irrevocably owns a life insurance policy and holds the proceeds for designated beneficiaries under terms you set. The trust is drafted so that the insured is not considered the owner of the policy for estate tax purposes, which can remove the proceeds from the insured’s taxable estate when properly timed. Trustees manage the policy — paying premiums, handling beneficiary distributions, and maintaining records. Because ownership is transferred to the trust, grantors must understand the permanent nature of the arrangement and plan funding and trustee duties carefully to achieve desired outcomes.
Creating an ILIT involves several deliberate steps: drafting trust documents that reflect your intentions and comply with California law; transferring ownership of an existing policy or having the trust purchase a new policy; establishing methods to fund premium payments without creating unintended taxable transfers; and naming trustees and successor trustees. Administrative processes include issuing gift notices for premium contributions, maintaining trust records, and coordinating with other estate planning instruments. Regular reviews ensure the ILIT remains aligned with life changes, policy adjustments, and shifting legal rules.
Understanding common terms helps demystify the ILIT process and clarify responsibilities. This glossary covers terms you will encounter when creating and administering an ILIT: grantor, trustee, beneficiary, pour-over will, certification of trust, and taxable estate. Grasping these concepts makes it easier to evaluate trustee duties, payment mechanisms for premiums, and how the trust integrates with broader estate planning documents. Consultation and careful review of named roles and triggers lead to more reliable administration and help avoid unintentional tax or probate consequences.
The grantor is the individual who establishes the ILIT and transfers the life insurance policy or funds to it. The grantor sets the terms of the trust, selects beneficiaries and trustees, and defines distribution parameters. Because an ILIT is irrevocable, the grantor generally relinquishes control over the policy and must plan funding and trustee selection with care. The grantor’s actions, such as making gifts to cover premiums, have important tax and administrative consequences under federal and California rules, and prompt accurate documentation helps preserve the intended outcomes.
The trustee is the person or entity responsible for managing the ILIT according to its terms and applicable law. Trustee duties typically include paying premiums, keeping accurate records, communicating with beneficiaries, and distributing proceeds when the insured’s policy pays out. Trustees have a fiduciary duty to act in the beneficiaries’ best interests and must follow the governing trust document. Choosing a trustee who is willing and capable of handling administrative tasks, or appointing a professional trustee when appropriate, helps ensure the trust operates smoothly over time.
Beneficiaries are the individuals or entities entitled to receive the life insurance proceeds or other trust assets under the trust’s terms. The settlor can designate primary and contingent beneficiaries and define how distributions should be made, whether in lump sums, installments, or for specific purposes like education or healthcare. Clear beneficiary designations and trust terms reduce the likelihood of disputes and help ensure that funds are used in ways that align with the grantor’s goals, especially when beneficiaries include minors or persons with special needs requiring ongoing financial oversight.
Funding an ILIT typically involves making gifts to the trust to pay policy premiums. When gifts are used, annual gift tax exclusions may apply, and it is common to issue gift notices to beneficiaries when contributions are made on their behalf. Accurate recordkeeping of gifts, premium payments, and notices helps establish that the trust was properly funded and reduces the risk of estate inclusion or other tax complications. Proper administration of funding and notices is a key operational element that preserves the intended estate planning benefits of the ILIT.
An ILIT is one of multiple available tools for managing life insurance proceeds and controlling how benefits are distributed. Other options include owning policy through a revocable living trust, naming individual beneficiaries directly, or using payable-on-death designations. Each choice has trade-offs in terms of control, tax exposure, probate avoidance, and creditor protection. An ILIT is often chosen for its ability to remove proceeds from the taxable estate and provide structured distribution, while other options may suit simpler situations or when the grantor wants to maintain greater flexibility over the policy during their lifetime.
If life insurance proceeds are modest relative to the size of your overall estate and there is limited risk of estate tax, a simpler ownership arrangement may be adequate. Direct beneficiary designations or holding a policy within a revocable living trust can streamline administration and minimize complexity. In such cases, the administrative burden of an ILIT may outweigh its benefits. Evaluating projected estate tax exposure, family needs, and creditor concerns helps determine whether a streamlined approach aligns better with your planning goals and reduces ongoing paperwork and reporting obligations.
Some individuals prefer to retain ownership and control of a life insurance policy during their lifetime to allow for policy changes, loans, or cancellations. A revocable arrangement provides that flexibility but may not provide the same estate tax or asset protection benefits as an ILIT. When flexibility is a priority and estate tax concerns are minimal, maintaining ownership may better suit your objectives. It’s important to balance the desire for control with potential risks, and to consider how beneficiary protections will be handled without the structure an ILIT provides.
When family situations are complex, with blended families, minor children, or beneficiaries who may require ongoing oversight, a comprehensive planning approach ensures coordination across trusts, wills, powers of attorney, and healthcare directives. An ILIT interacts with other documents like pour-over wills, retirement plan trusts, and special needs trusts, and those interactions affect tax treatment and distribution mechanics. A comprehensive plan clarifies intentions, reduces the potential for conflict, and provides a cohesive roadmap for trustees and family members to follow after the grantor’s death.
When estate tax exposure or creditor risks are a real concern, coordinating an ILIT with other planning devices can protect assets and maximize value passed to beneficiaries. A full-service approach reviews ownership structures, gifting strategies, and applicable exclusions to reduce tax liabilities while preserving intended distributions. Assessment of retirement accounts, business interests, and existing trust instruments helps avoid unintended consequences like estate inclusion or double taxation. Thoughtful planning addresses both immediate financial goals and long-term protection for heirs and legacy planning.
Integrating an ILIT into a comprehensive estate plan supports coordinated asset transfer and continuity of financial affairs. This approach allows life insurance proceeds to be aligned with trusts, pour-over wills, and guardianship nominations to ensure minor children or dependents are cared for according to your instructions. It reduces the risk of conflicting beneficiary designations and helps trustees administer assets efficiently. Additionally, comprehensive planning anticipates potential life changes and includes provisions for modifications where permissible, so the overall plan remains responsive to family and financial developments.
A coordinated plan also simplifies administration and provides clarity for trustees and family members during a difficult time. With clear documents in place, trustees can follow defined procedures for receiving and distributing life insurance proceeds, making decisions about investments, and communicating with beneficiaries. Linking an ILIT to other estate planning tools supports smoother probate avoidance, timely distribution of assets, and better protection from outside claims. Ultimately, a comprehensive strategy helps preserve the value of your estate and supports the well-being of those you intend to benefit.
One major benefit of integrating an ILIT is the potential for reducing estate tax exposure when executed correctly and timed properly. Removing life insurance from the taxable estate can preserve a larger portion of proceeds for beneficiaries and reduce the risk of forced asset sales to cover taxes or debts. When combined with gifting strategies and other trust structures, this approach helps ensure that assets are preserved and distributed according to your goals rather than being diminished by administrative costs or tax liabilities.
An ILIT allows you to define how and when beneficiaries receive proceeds, providing structure for managing large sums that could otherwise be misused or placed at risk. Trust terms can set conditions for distributions, such as for education, healthcare, or staged payments over time. Because the trust owns the policy, proceeds can also enjoy protection from certain creditor claims depending on applicable law. These features create a more stable financial legacy and reduce the burden on family members who would otherwise handle lump-sum distributions without clear guidance.
Selecting a trustee who understands fiduciary responsibilities and is willing to manage administrative duties is essential for smooth trust operation. Consider naming successor trustees to provide continuity if the initial trustee becomes unavailable. If family members lack the time or capacity to manage trust administration, consider professional or corporate trustees where appropriate. Clear instructions and accessible trust records help trustees fulfill their obligations. Discuss trustee compensation, communication expectations, and decision-making authority in the trust document to reduce future disputes and ensure consistent administration.
An ILIT works best when it is fully integrated with other planning documents such as revocable living trusts, pour-over wills, powers of attorney, and healthcare directives. Ensure beneficiary designations on retirement plans and policies align with trust goals and that pour-over wills capture intended assets. Periodic plan reviews are important as life changes occur, including births, deaths, marriages, or changes in finances. Clear communication with family about the existence and purpose of the ILIT reduces surprises and helps beneficiaries understand the plan when it becomes operative.
Consider establishing an ILIT when life insurance proceeds form a substantial portion of your estate, when there are concerns about estate tax exposure, or when you want to control how proceeds are distributed to heirs. An ILIT is also appropriate when creditor protection is a priority for intended beneficiaries or when beneficiaries include minors or individuals who may need structured distributions. Discussion of personal goals, family dynamics, and financial circumstances helps determine whether an ILIT is the right tool to preserve value and protect your long-term intentions.
An ILIT may be attractive if you plan to leave specific instructions for how life insurance proceeds are used, such as funding education, care for a dependent, or supporting a surviving spouse while preserving principal for future generations. It also benefits those who wish to keep proceeds out of probate and ensure a private, trust-based administration. Because an ILIT requires irrevocable transfers and careful funding, prospective grantors should weigh the permanency of the arrangement against the anticipated advantages in tax outcome, asset protection, and distribution control.
Typical circumstances that prompt ILIT planning include significant life insurance holdings within a larger estate, blended family arrangements where precise distribution is desired, and situations where beneficiaries may be vulnerable to creditors or poor financial decision-making. Business owners sometimes use ILITs to provide liquidity for estate taxes or to protect succession assets. Families with special needs dependents or those seeking to fund long-term care or education also frequently consider ILITs. Each situation benefits from tailored provisions to match the intended legacy and administrative realities.
In blended families, ILITs can ensure that specific beneficiaries receive the intended portion of life insurance proceeds while protecting the interests of children from prior relationships. Trust terms can specify allocation and usage rules that reduce conflict and provide clarity for trustees. Because the trust holds and administers proceeds under the grantor’s directions, it reduces the risk that funds will be diverted from intended heirs. Thoughtful drafting helps uphold the grantor’s wishes while accounting for family dynamics and long-term financial needs.
When life insurance represents a material asset within a high net worth estate, using an ILIT can be a part of broader estate tax planning to preserve assets for heirs. Properly structured ILITs can remove proceeds from the taxable estate, potentially lowering the estate tax burden and preventing forced liquidation of other assets. Coordination with gifting strategies and other trust instruments helps create a cohesive plan to pass wealth efficiently. Detailed recordkeeping and timely administration of trust funding are essential to maintain the intended tax treatment.
An ILIT can be structured to support dependents with special needs without jeopardizing eligibility for public benefits when coordinated with a special needs trust. Trust provisions can allocate funds for supplemental needs while preserving access to essential government programs. Careful drafting ensures distributions complement rather than replace available benefits, and naming appropriate trustees or co-trustees provides the stewardship needed to manage resources responsibly. Combining an ILIT with a special needs trust and other planning documents supports both long-term care and financial stability for vulnerable beneficiaries.
We provide ILIT planning and related trust services to residents of Harbison Canyon and the surrounding areas of San Diego County. Our team assists with drafting trust documents, transferring ownership of policies, establishing funding mechanisms, and coordinating with existing estate plans. We take time to explain administrative responsibilities, trustee selection, and beneficiary considerations so you understand how the trust will function in practice. Whether you are setting up an ILIT for the first time or reviewing an existing arrangement, we help ensure your plan is consistent with California law and your family’s priorities.
The Law Offices of Robert P. Bergman offers practical, client-centered estate planning services tailored to California residents. We prioritize clear communication and careful documentation so clients understand their options and the implications of choosing an ILIT. Our services include drafting trust instruments, coordinating policy transfers, creating funding plans, and providing guidance on trustee duties. We aim to make the process manageable and thorough, addressing tax, administrative, and family considerations to help clients achieve a coordinated and durable plan.
We work with clients to craft ILIT provisions that reflect personal goals and to integrate trusts with related planning documents such as pour-over wills, financial powers of attorney, and healthcare directives. Our practice emphasizes proactive planning and ongoing review so trusts remain aligned with life events and changing laws. We also assist in communicating with insurance carriers and trustees to facilitate smooth transitions and maintain accurate records, reducing the administrative burden on families during sensitive times.
Clients in Harbison Canyon and across San Diego County rely on our firm for thoughtful planning that takes into account local considerations and California legal requirements. We provide practical guidance on gift funding, trustee responsibilities, and how an ILIT fits into a broader estate plan. Our goal is to help clients protect assets, preserve family legacies, and deliver financial support to beneficiaries according to well-defined terms while reducing uncertainty and potential conflicts.
Our process for establishing an ILIT begins with a consultation to review your assets, policy ownership, family objectives, and timing needs. We draft trust documents tailored to your goals, assist with the transfer or purchase of a policy in the trust’s name, and develop a premium funding plan that addresses gifting and tax considerations. After funding, we provide trustees with administration guidance and prepare supporting documentation such as gift notices and certification of trust. We also schedule periodic reviews to confirm the trust remains aligned with evolving circumstances and legal changes.
The initial step involves gathering information about existing life insurance policies, estate assets, beneficiary designations, and your broader planning goals. During this stage, we evaluate whether an ILIT will achieve the desired outcomes and discuss trustee options and funding strategies. We then draft the trust document with clear distribution terms, naming trustees and successor trustees, and include provisions to address contingencies. Clear communication during drafting helps ensure the trust reflects your intentions and integrates effectively with other estate planning instruments.
Assessing who currently owns the life insurance policy and how beneficiaries are designated is vital to determine transfer steps and tax implications. If the policy is owned by the grantor, transferring it to the ILIT requires careful timing to avoid estate inclusion under applicable rules. If the trust purchases a new policy, we coordinate with insurance carriers to issue the policy in the trust’s name. Clear documentation of ownership transfer and beneficiary changes ensures that the trust will operate as intended when proceeds are payable.
Drafting the trust includes setting distribution standards, addressing contingencies, and naming trustees and successors. Trust terms can define whether distributions are for specific purposes such as education or health care or whether funds should be distributed over time. We include provisions for trustee powers, reporting obligations, and mechanisms to handle policy changes. These details provide a framework for predictable administration and reduce the chance of disputes or ambiguity when the trust becomes operative.
Funding the ILIT typically requires gifts to the trust to pay policy premiums and may involve transferring an existing policy into the trust or having the trust purchase a new policy. We advise on gift strategies that may utilize annual exclusions and ensure proper notices and records are maintained. Coordination with insurance carriers and careful timing are important to avoid estate inclusion. Proper funding and documentation during this phase preserve the ILIT’s intended benefits and set the stage for smooth administration.
Many ILIT funding plans use annual gift tax exclusions to transfer funds to the trust for premium payments. This requires delivering timely gift notices to beneficiaries and keeping accurate records of contributions and expenditures. Clear documentation supports compliance with tax rules and helps prove the trust was properly funded. We outline procedures for recurring premium payments and advise on recordkeeping practices that reduce the risk of inadvertent tax consequences or misinterpretation during estate administration.
If transferring an existing policy, the ownership transfer must be formalized with the insurer and documented appropriately. Alternatively, a new policy issued directly to the ILIT simplifies ownership questions but requires underwriting and coordination. Both approaches require attention to timing, beneficiary designations, and ensuring the trust has authority to manage and receive policy proceeds. We assist with communications to insurance carriers and drafting the necessary paperwork so the trust is properly recognized as the policy owner and beneficiary where applicable.
After funding and transfer, ongoing administration includes paying premiums, maintaining records, issuing gift notices when needed, and communicating with beneficiaries. Trustees must follow the trust terms and applicable law to manage policy-related matters and distribute proceeds when appropriate. Periodic reviews of the ILIT and related estate planning documents help ensure everything remains aligned with life events and regulatory changes. We offer continued support for trustee guidance, trust modifications to address changing needs where possible, and coordination with financial advisors and insurance providers.
Trustees are responsible for maintaining accurate records of premium payments, gifts, correspondence, and distributions. They must follow the trust’s distribution provisions and keep beneficiaries informed as required. Proper recordkeeping supports tax filings and defends against potential disputes or claims. We provide trustees with recommended practices and templates to document actions taken on behalf of the trust and maintain continuity through changes in trusteeship or family circumstances.
Periodic reviews are important to confirm that the ILIT remains consistent with your estate planning goals and complies with changes in law or family circumstances. While the trust is irrevocable, some trusts include mechanisms for addressing unexpected events or changing needs where legally permissible. We recommend scheduled reviews following major life events such as births, deaths, marriages, or significant financial changes to assess whether adjustments are appropriate and to ensure seamless coordination with other planning documents and financial accounts.
An Irrevocable Life Insurance Trust (ILIT) is a trust that irrevocably owns a life insurance policy and holds proceeds for named beneficiaries under terms you specify. The trust is designed so that the policy is not part of the grantor’s taxable estate, when properly timed and funded, which can reduce estate tax exposure and help preserve assets for heirs. Because the trust owns the policy, the trustee manages premiums, recordkeeping, and distributions according to the trust’s provisions, and proceeds pass through the trust rather than directly to beneficiaries. People use ILITs for several reasons, including removing life insurance from the taxable estate, providing structured distribution to beneficiaries, and coordinating proceeds with other estate planning documents. An ILIT can also protect proceeds from certain claims depending on applicable law. Deciding whether an ILIT fits your needs depends on factors such as estate size, policy ownership, family dynamics, and long-term goals. A careful review of your situation helps determine whether an ILIT is the appropriate tool for your plan.
Funding an ILIT often involves making gifts to the trust to cover premium payments, and those gifts can often be structured to use the annual gift tax exclusion. It is important to document gifts, issue gift notices where appropriate, and maintain accurate records to demonstrate that contributions were made on behalf of the trust and beneficiaries. This documentation supports the intended tax treatment and reduces the risk of unintended estate inclusion. Gift reporting requirements depend on the size and nature of transfers. While many annual gifts fall within exclusion limits and do not require a gift tax return, larger transfers may require filing Form 709 and consideration of lifetime exemptions. Timing and structure of gifts are important, so planning ahead helps ensure contributions are made in a manner that aligns with both tax rules and the trust’s funding needs.
Yes, an existing life insurance policy can often be transferred into an ILIT, but the transfer must be handled carefully. If the grantor transfers ownership of a policy to the trust, there are timing rules to consider that can affect estate inclusion. For example, transfers made within a certain period before death may still be included in the grantor’s estate for tax purposes. Proper documentation of the transfer and coordination with the insurance company are essential for a successful ownership change. Alternatively, a trust can purchase a new policy issued directly in the trust’s name, which can avoid some transfer concerns but requires underwriting and coordination with the insurer. Whether transferring an existing policy or obtaining a new one, it is important to arrange premium funding and keep clear records to preserve the ILIT’s intended benefits and to ensure the trust is recognized as the policy owner by the insurer.
A trustee can be a trusted family member, friend, or a corporate trustee, depending on the complexity of the trust and the administrative responsibilities involved. The trustee’s duties include paying premiums, keeping detailed records, communicating with beneficiaries, and distributing proceeds in accordance with the trust terms. Trustees have fiduciary obligations to act in the beneficiaries’ best interests and to follow the trust document and applicable law when making decisions. Selecting a trustee involves considering availability, recordkeeping ability, and willingness to perform administrative tasks over time. Naming successor trustees is important to ensure continuity. For clients who prefer to minimize the administrative burden on family members, professional or institutional trustees can provide consistent trust administration and statutory compliance across the life of the trust.
An ILIT should be coordinated with your revocable living trust and pour-over will to create a cohesive estate plan. While a revocable trust can hold many assets and avoid probate, an ILIT separately holds life insurance policies and receives proceeds outside of the revocable trust. A pour-over will can direct assets into a revocable trust upon death, but life insurance held in an ILIT generally passes under the terms of that trust rather than the pour-over will. Coordination prevents conflicting beneficiary designations and ensures that distributions across trusts and wills reflect your intentions. Regular review of beneficiary designations, trust provisions, and related documents helps maintain alignment and prevents unintended outcomes during administration or probate proceedings.
Because an ILIT is irrevocable, changing trust terms after funding is typically limited and requires careful consideration of legal mechanisms that may be available. In some situations, trustees and beneficiaries can agree to modifications under state law, or decanting and other trust administration tools may achieve changes where permitted. However, changes intended to benefit the grantor or affect estate inclusion require caution and professional guidance to avoid unintended tax or legal consequences. If you need to replace or modify a life insurance policy held by an ILIT, coordination with the insurer and careful documentation are necessary. Replacing a policy may have underwriting implications and could trigger timing rules that affect tax treatment. Planning for potential policy changes during the initial drafting phase can provide flexibility while preserving the trust’s intended benefits.
An ILIT can provide a measure of protection from creditors for life insurance proceeds because the trust, rather than the individual beneficiary, holds and distributes the funds under trust terms. The level of protection depends on the trust’s structure, state laws, and the nature of creditor claims. By placing proceeds in a properly drafted trust, distributions can be controlled and shielded from certain claims that might otherwise attach to funds received directly by beneficiaries. That said, creditor protection is not absolute and varies by jurisdiction and circumstances. For example, claims by certain types of creditors or legal obligations may reach trust distributions under specific conditions. Assessing creditor exposure and combining the ILIT with other planning tools, including spendthrift provisions and complementary trusts, helps maximize protection within the bounds of applicable law.
Gift notices and beneficiary communications are important parts of ILIT administration when gifts are made to the trust for premium payments. Standard practice often involves sending written notices to beneficiaries informing them that a gift has been made to the trust on their behalf, which supports proper use of gift tax exclusions and transparency. Trustees should retain thorough records of gifts, notices, and premium payments to document compliance with gifting strategies and tax rules. When proceeds are payable, trustees follow the trust’s distribution provisions and notify beneficiaries of available funds and the process for requested distributions. Clear communication and documentation reduce confusion and help beneficiaries understand how and when funds will be used for designated purposes, such as education or healthcare, consistent with the trust terms.
Timing rules are important when creating an ILIT, particularly regarding transfers of existing policies. Transfers made within a certain period before the grantor’s death may still be included in the grantor’s taxable estate under federal law, so early planning is essential to achieve the desired estate tax exclusion. Additionally, coordinating premium payments and gift notices on an annual schedule helps preserve tax benefits and confirms that gifts were properly made to the trust. Other timing considerations include the underwriting process when a trust purchases a new policy and the administrative lead time to transfer ownership with the insurance carrier. Planning in advance and documenting actions taken ensures that the ILIT functions as intended and avoids last-minute complications that could affect tax or probate outcomes.
To get started with an ILIT in Harbison Canyon, contact the Law Offices of Robert P. Bergman for an initial consultation to discuss your life insurance policies, estate goals, and family circumstances. During this meeting, we review existing documents, evaluate whether an ILIT suits your needs, and outline the steps for drafting, funding, and administering the trust. Clear guidance on trustee selection, premium funding plans, and coordination with other estate planning instruments helps you make a confident decision. Following the consultation, we prepare tailored trust documents, assist with transferring or issuing policies, and provide templates for recordkeeping and gift notices. We also offer ongoing support for trustees and periodic reviews to ensure the ILIT continues to align with your objectives and changing circumstances. Taking a methodical approach from the outset helps protect your intentions and simplifies trust administration when it matters most.
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