An Irrevocable Life Insurance Trust (ILIT) can be a powerful component of an estate plan for Poway residents seeking to manage life insurance proceeds, protect assets from estate taxation, and provide clear directions for beneficiaries. At the Law Offices of Robert P. Bergman, we help individuals and families understand how an ILIT functions, how ownership and control of a policy are transferred, and the practical steps that ensure the trust operates as intended. This introduction explains core concepts, typical uses, and how an ILIT interacts with other estate planning documents like trusts, pour-over wills, and powers of attorney to create a coordinated plan tailored to each client.
Deciding whether an ILIT is appropriate requires careful consideration of personal circumstances, family structure, and long-term financial goals. An ILIT can remove a life insurance policy’s death benefit from the taxable estate, provide liquidity to pay estate obligations, and designate clear distributions to heirs. For many clients, coordinating an ILIT with retirement plan provisions, special needs trusts, or pet trusts offers peace of mind. Our approach is to listen to your priorities, explain tradeoffs, and design a plan that reflects your wishes while complying with California law. We aim to make the process straightforward, transparent, and focused on practical outcomes for your family.
An ILIT matters because it can preserve the full value of life insurance proceeds for beneficiaries by keeping those proceeds out of the grantor’s taxable estate. This structure is especially beneficial for individuals with substantial life insurance policies, mixed asset portfolios, or estates that may incur estate taxes. Beyond potential tax savings, an ILIT offers other benefits including creditor protection depending on circumstances, a clear mechanism for distributing proceeds, and the ability to assign trust provisions that control timing and conditions of distributions. When combined with other estate planning documents, an ILIT helps create a predictable and orderly transfer of wealth that aligns with your goals and family needs.
The Law Offices of Robert P. Bergman serve clients across California with a focus on practical estate planning and trust administration. Our team brings many years of combined experience handling revocable living trusts, irrevocable trusts, wills, powers of attorney, and health care directives. We prioritize clear communication and thoughtful planning so that each ILIT is drafted and funded in a way that minimizes unintended tax or legal consequences. Clients in Poway and throughout San Diego County count on our steady guidance when complex decisions are required, and we work to ensure documents reflect current law and the client’s personal and financial objectives.
An ILIT is a trust that owns and is the beneficiary of a life insurance policy, with ownership transferred out of the grantor’s estate. Because the trust is irrevocable, the grantor relinquishes certain ownership rights to ensure the policy proceeds are handled under the trust terms. Funding the trust requires careful coordination of premium payments and trustee management. The trustee collects gifts from the grantor, pays policy premiums, and receives the death benefit for distribution according to the trust document. Proper timing and documentation are essential to achieve the intended results and to avoid having the proceeds included in the grantor’s taxable estate.
Creating an ILIT involves choosing trustees, specifying distribution rules, and coordinating with existing retirement accounts and beneficiary designations. For some families, an ILIT provides liquidity to pay for estate taxes or debts without forcing the sale of family assets. In other situations, the trust can stagger distributions to younger beneficiaries or provide ongoing financial oversight for those needing assistance. Establishing an ILIT also requires attention to gift tax rules and withdrawal rights so that premium contributions are recognized as completed gifts when applicable. Thoughtful drafting and administration are essential to ensure the trust delivers the intended protections and benefits.
An Irrevocable Life Insurance Trust is a legal arrangement in which a grantor transfers ownership of a life insurance policy to a trust that cannot be revoked. The trust becomes the policy owner and typically the beneficiary, ensuring that the death benefit will pass according to trust terms rather than by beneficiary designation alone. Because the grantor gives up ownership and control, the value of the policy is generally not included in the grantor’s taxable estate. The trust document also sets out who receives trust assets, how distributions are managed, and any special instructions for the trustee to follow after the insured’s death.
Key elements of an ILIT include the trust document itself, the trustee, the grantor’s funding mechanism for premium payments, and the ultimate beneficiaries. The process begins with drafting the trust, transferring an existing policy or purchasing a new policy owned by the trust, and ensuring premium payments are made in a manner that constitutes completed gifts where intended. Trustees must maintain records, coordinate with insurers, and follow distribution terms. Administration after the insured’s death includes claiming the death benefit, paying any necessary expenses, and distributing proceeds according to the trust’s instructions while observing any tax reporting requirements and deadlines.
Familiarity with common ILIT terms helps clients make informed decisions. Understanding who the grantor, trustee, and beneficiaries are, as well as how ownership transfers and gift rules operate, reduces confusion. The glossary below defines terms you are likely to encounter during planning and administration. Learning these definitions makes it easier to evaluate options and communicate preferences for trustee powers, distribution timing, and coordination with other documents such as pour-over wills, retirement plan trusts, and advance health care directives.
An Irrevocable Life Insurance Trust is a trust created to own and manage a life insurance policy outside of the grantor’s estate. By placing the policy in an irrevocable trust and relinquishing ownership, proceeds can be distributed according to trust terms and can potentially avoid inclusion in the grantor’s taxable estate. The trust specifies the trustee’s duties, beneficiary designations, and distribution mechanics. Properly funded and managed, an ILIT provides a structured way to handle insurance proceeds, provide liquidity for estate obligations, and address family distribution objectives while complying with applicable tax rules.
A trustee is an individual or institution appointed to manage the trust’s assets and carry out the terms set by the grantor. In an ILIT, the trustee’s responsibilities include paying policy premiums from trust funds, communicating with insurance carriers, maintaining records, and distributing proceeds to beneficiaries in accordance with the trust document. A trustee must act in the best interests of the beneficiaries and follow the trust’s instructions. Selecting a trustee involves evaluating reliability, administrative ability, and comfort with fiduciary responsibilities to ensure proper trust management over time.
The grantor is the person who establishes the ILIT and transfers ownership of a life insurance policy into the trust. As the grantor, that individual makes decisions about trust terms, chooses the trustee, and may fund the trust to pay policy premiums. Once the policy is transferred into an irrevocable trust, the grantor gives up ownership control over the policy to achieve the intended estate planning benefits. Understanding the tax and legal implications of those transfers is essential before funding the trust or making premium contributions.
A Crummey withdrawal right is a limited power given to trust beneficiaries allowing them a short period to withdraw contributions to the trust as a way to qualify contributions as present-interest gifts for gift tax purposes. When properly implemented, these withdrawal notices help premium payments made to an ILIT qualify for annual gift tax exclusion. The trustee typically provides notice to beneficiaries, who may choose not to exercise the withdrawal right. Careful administration of Crummey powers is important to maintain the intended tax treatment of contributions.
When considering an ILIT, clients often weigh a limited, narrow approach against a more comprehensive structure. A limited approach focuses on straightforward ownership transfer and basic distribution instructions, while a comprehensive plan addresses interactions with retirement accounts, tax planning strategies, succession concerns, and trust administration contingencies. Which option suits you depends on asset size, family dynamics, and long-term planning goals. Reviewing both options helps you understand tradeoffs between simplicity and broader protections or flexibility, so you can choose a structure that aligns with your priorities and reduces potential complications for your heirs.
A limited ILIT approach can be sufficient for individuals whose primary goal is to ensure a straightforward transfer of a single modest life insurance policy to remaining loved ones. If beneficiaries are adults, family relationships are uncomplicated, and the primary need is to provide a lump sum for immediate obligations such as funeral costs or outstanding debts, a narrow trust with clear distribution terms may be appropriate. This approach minimizes administrative complexity while still achieving the protective benefits of transferring ownership outside the taxable estate when appropriate for the client’s circumstances.
A limited approach may also fit situations with a short planning horizon or where the grantor’s estate is unlikely to be subject to significant estate taxes. When a policy’s value is relatively low compared with the overall estate and family objectives are straightforward, focusing on basic trust formation and funding mechanics can save time and expense. Even when choosing a limited plan, careful attention to documentation and timing remains important to ensure transfers are effective and that premium payments are handled in a way that avoids unintended tax consequences or trust administration problems.
A comprehensive ILIT strategy is usually necessary when the insurance policy is large relative to the estate, when beneficiaries include minors or individuals with special needs, or when family dynamics require precise control over distributions. In these circumstances, the trust should include detailed distribution mechanics, successor trustee provisions, and coordination with other trusts such as special needs trusts, retirement plan trusts, or irrevocable life insurance trusts to prevent unintended consequences. A thorough plan addresses contingencies and provides a governance framework for managing proceeds responsibly over time.
Comprehensive planning becomes important when minimizing estate tax exposure or coordinating liquidity needs at death is a priority. An ILIT can be integrated with gifting strategies, Crummey provisions, and other trust structures to reduce estate inclusion and facilitate orderly administration. Proper drafting and administration help avoid pitfalls that could result in the policy’s value being pulled back into the taxable estate. When dealing with multi-jurisdictional assets, business interests, or retirement accounts, comprehensive coordination is essential to make sure that life insurance proceeds are allocated in line with the broader estate plan.
A comprehensive ILIT approach offers predictability and coordination across an entire estate plan, helping to protect the value of life insurance proceeds and ensuring they serve intended purposes. It can provide liquidity to pay taxes and debts, reduce administrative friction for survivors, and structure distributions to meet long-term family objectives such as education funding or ongoing support. By addressing contingencies and integrating with other planning tools—like revocable living trusts, pour-over wills, and powers of attorney—a comprehensive plan reduces the risk of unintended outcomes and increases the likelihood that the grantor’s wishes are followed.
Comprehensive planning also helps establish clear roles and responsibilities for trustees, sets out procedures for funding and recordkeeping, and incorporates tax-aware strategies that protect value for beneficiaries. With more detailed provisions in place, trustees are better equipped to handle claims, creditor issues, and distribution disputes. Thoughtful coordination with retirement accounts, special needs provisions, and other trust instruments creates a unified plan that supports a family’s long-term financial security and provides practical guidance for those who will act on the grantor’s behalf.
A comprehensive ILIT helps preserve the full value of a life insurance policy by removing proceeds from the grantor’s taxable estate when properly implemented. This preservation provides liquidity to handle taxes, debts, and final expenses without forcing the sale of other estate assets. With clear distribution rules, beneficiaries receive funds promptly or according to a schedule that meets family objectives. This type of planning protects the intended purpose of the policy and makes it easier for trustees and family members to meet immediate financial needs and longer-term goals following the grantor’s death.
Comprehensive ILITs reduce administrative burdens by setting clear procedures for trustees, detailed distribution instructions, and contingencies for common issues. When trust terms anticipate potential disputes or complexities, trustees have a roadmap to follow that limits confusion and conflict among beneficiaries. Properly drafted trust provisions can address issues such as successor trustee appointments, beneficiary withdrawal windows, and coordination with other estate documents. This planning fosters smoother administration and can reduce the likelihood of litigation or contentious disputes that often arise in less-detailed arrangements.
Selecting the right trustee is a key practical step when establishing an ILIT. The trustee will be responsible for paying premiums if trust funds are available, maintaining records, communicating with beneficiaries, and administering distributions after the insured’s death. Consider a trustee with financial acumen and a reputation for reliability, and be sure to name successor trustees in case the initial choice is unable or unwilling to serve. Clear appointment language and defined trustee powers help avoid confusion and provide continuity in trust administration over time.
Coordination between an ILIT and the remainder of your estate plan is essential. Beneficiary designations on retirement accounts, a pour-over will, revocable living trust provisions, and powers of attorney should complement the ILIT’s objectives to avoid conflicting instructions. Regular reviews ensure that changes in assets, family circumstances, or law are reflected across documents. When an ILIT is integrated thoughtfully with other planning tools, it functions more effectively, reduces the risk of unintended consequences, and helps ensure your wishes are implemented as intended.
You might consider an ILIT if you seek to protect life insurance proceeds from inclusion in your taxable estate, provide liquidity for estate obligations, or impose structure around how proceeds are distributed to beneficiaries. An ILIT can be particularly helpful when beneficiaries need oversight, when there are concerns about creditor claims, or when you want to control timing and conditions of distributions. In addition, an ILIT can work alongside other trust arrangements like special needs trusts and retirement plan trusts to create a comprehensive strategy that meets varied family priorities and financial objectives.
Other reasons to consider this service include minimizing administrative complications for survivors, ensuring funds are available without forcing asset sales, and preserving the value of life insurance for intended recipients. If you have a sizable policy or anticipate complex estate administration, an ILIT provides a mechanism to reduce uncertainty at death. Discussing these considerations early allows you to implement a plan that aligns with your goals and reduces the likelihood of disputes or unintended tax consequences for your loved ones.
Common circumstances include having a high-value life insurance policy, owning assets that may trigger estate tax exposure, having beneficiaries who are minors or have special needs, or holding interests in closely held businesses. An ILIT can provide liquidity, structure distributions, and separate life insurance proceeds from estate assets. Families with blended relationships, potential creditor concerns, or a desire for long-term trust management also frequently turn to ILITs. Assessing personal goals, family dynamics, and asset composition helps determine whether an ILIT is a practical solution for your situation.
When a life insurance policy represents a significant portion of your financial picture, placing it in an ILIT can help keep the death benefit out of your taxable estate, potentially reducing estate tax exposure. This is particularly relevant for individuals whose combined assets and life insurance exceed federal or state thresholds that could result in additional taxes. An ILIT provides a structured vehicle to hold and distribute the proceeds, and it can be designed to address liquidity needs and distribution preferences to protect beneficiaries and ensure the policy serves its intended purpose.
When beneficiaries have special financial needs, limited financial capacity, or require ongoing support, an ILIT can direct how and when funds are distributed to preserve long-term financial stability. Using trust provisions to stagger distributions, appoint protective provisions, or coordinate with special needs trusts helps ensure benefits are delivered consistently without jeopardizing other public benefits. Designing the ILIT with these concerns in mind provides a mechanism to balance immediate needs with future security and offers trustees clear guidance for responsible distribution practices.
Business owners often use ILITs to provide liquidity for succession planning, buy-sell agreements, or estate settlement expenses. The death benefit can fund business continuity plans or buyouts without forcing the sale of business assets. When a company interest forms a significant portion of net worth, an ILIT ensures funds are available to meet tax or creditor obligations while preserving ownership continuity. Properly integrated with buy-sell agreements and other business planning documents, an ILIT can support a smooth transition and reduce financial strain on family or partners.
We are here to help Poway residents navigate the technical and administrative aspects of creating and managing an ILIT. From initial planning to drafting trust documents, transferring policy ownership, and handling trustee responsibilities, we provide practical guidance tailored to your family’s needs. Our goal is to ensure the ILIT is funded and administered correctly so that the policy proceeds fulfill your intentions. We also coordinate the ILIT with your broader estate plan, including revocable living trusts, wills, and health care directives, to create a cohesive framework that protects your legacy and supports your beneficiaries.
Choosing the right legal guidance matters when creating an ILIT. Our firm emphasizes clear communication and careful drafting to ensure trust provisions align with your goals. We take time to explain the reasons for particular clauses, review the timing of transfers, and coordinate trustee duties with family realities. This approach reduces the risk of errors that could affect tax treatment or administration. Our practice focuses on providing pragmatic solutions that help clients protect policy assets and provide stable outcomes for beneficiaries.
We also focus on thorough planning and documentation to support the trust’s intended results over time. This includes drafting Crummey notices when appropriate, creating successor trustee provisions, and coordinating beneficiary designations across accounts. Clear recordkeeping and proactive administration reduce the potential for disputes and help trustees execute their duties efficiently. Our process aims to reduce surprises for families during difficult times and to make the transition after a grantor’s death as orderly as possible.
Finally, we provide ongoing support as circumstances change, whether updating trust provisions, revising funding strategies, or addressing administration questions after the insured’s death. Regular reviews of estate plans help ensure documents remain aligned with current law and personal goals. By taking a long-term view and helping clients adapt plans when needed, we strive to protect the value of life insurance proceeds and secure the financial intentions of the grantor for the benefit of those left behind.
Our process begins with a conversation to understand your objectives, family dynamics, and financial profile, followed by a review of insurance policies and existing estate documents. We then recommend structuring options, draft trust documents tailored to your needs, and assist with ownership transfers and funding arrangements. After formation, we provide guidance on trustee administration, premium funding mechanics, and any required notices to beneficiaries. We aim to make implementation efficient and transparent so you have confidence that the ILIT will operate according to your wishes when it is needed most.
The first step is a focused meeting to collect relevant information about your policies, assets, family situation, and planning goals. We review current beneficiary designations, existing trust documents, and any business interests or special planning considerations. This fact-gathering phase identifies potential tax or administrative issues and helps determine whether an ILIT meets your objectives. The goal is to develop a clear plan that outlines trustee selection, funding methods, and how the ILIT will interact with your broader estate plan.
During this stage we examine existing life insurance policies, owners, and beneficiary designations to determine the steps necessary to transfer ownership into a trust or to purchase a new policy owned by the ILIT. We identify potential conflicts between policy designations and trust goals and provide guidance on timing and documentation required to complete transfers properly. Ensuring that policy ownership and beneficiary designations align with the trust terms is essential to achieve the intended estate planning outcomes.
We discuss trustee selection, successor trustees, and practical funding strategies for premium payments, including the use of gift contributions and Crummey withdrawal notices when appropriate. These conversations help you decide who will manage the trust and how premiums will be provided without disrupting other aspects of your estate plan. Clear agreements about responsibilities and transparent recordkeeping expectations are established from the outset to support smooth administration after the trust is funded.
The second step is drafting the ILIT document and executing the trust, transferring policy ownership to the trust, and implementing funding arrangements. We prepare trust language that reflects distribution preferences, trustee powers, and administrative procedures. If an existing policy is transferred, we assist with the paperwork required by the insurer; if a new policy is issued, we coordinate the application and ownership structure. Proper execution and documentation are critical to ensuring the trust operates as intended and that premium contributions are recognized under applicable tax rules.
This phase involves signing trust documents, completing assignment forms to transfer policy ownership, and submitting necessary paperwork to insurance carriers. We confirm that the trust is properly funded and that records reflect each transaction. If Crummey powers are used, we prepare notices to beneficiaries and document their receipt. Ensuring accuracy in these steps reduces the risk that policy proceeds could be subject to unintended tax treatment or administrative complications later.
We coordinate with insurers, financial advisors, and banks as needed to set up accounts for premium payments and to ensure the flow of contributions to the trust is consistent and well-documented. Communication among professionals helps align the ILIT with investment plans and other trust arrangements. Good coordination minimizes delays, supports compliance with the trust terms, and provides a clear record for future administration.
The final step focuses on ongoing administration after the trust is funded and after the insured’s death. Trustees must maintain records, manage premium payments if necessary, and follow the trust’s distribution provisions. We assist trustees with claims for the death benefit, tax filings if necessary, and distribution mechanics. Periodic reviews ensure the ILIT continues to reflect changes in family circumstances, finances, and law. Ongoing attention helps maintain the trust’s effectiveness and ensures the grantor’s intentions are carried out over time.
After the insured’s death, trustees must notify insurers, submit claims for the death benefit, and follow the trust’s distribution instructions. We provide guidance to trustees on required documentation, timing, and potential tax or creditor issues that may arise. Clear communication and organized records help resolve claims efficiently and allow trustees to disburse trust proceeds in accordance with the trust terms and applicable legal obligations.
Regular reviews of the ILIT and related estate planning documents are important as family dynamics, financial situations, and laws change. We recommend periodic check-ins to confirm that trustee designations remain appropriate, funding arrangements are functioning as intended, and that the trust still reflects the grantor’s objectives. Adjustments may be necessary to maintain coordination with other estate planning tools and to ensure the trust continues to meet its intended purposes.
An Irrevocable Life Insurance Trust is a trust designed to own and receive proceeds from a life insurance policy, so the policy’s death benefit is managed and distributed according to the trust terms rather than passing directly by beneficiary designation or probate. When the grantor transfers ownership to the trust and the trust is properly structured, the policy proceeds are typically outside of the grantor’s taxable estate, subject to the rules that govern transfers and ownership timing. The trust document also sets the trustee’s responsibilities and the manner in which beneficiaries receive distributions. The trust operates by holding the policy, permitting the trustee to pay premiums from trust assets or gifts to the trust, and ultimately receiving the death benefit when the insured passes away. Proper funding and documentation are important in order to maintain the intended estate and tax outcomes. An ILIT is a planning tool that works alongside other estate documents to create a coordinated approach to managing insurance proceeds and protecting family interests.
Transferring ownership of a policy to an ILIT typically means the grantor no longer retains ownership rights, which can affect certain privileges such as the ability to change beneficiaries or cash out the policy without trustee involvement. If keeping access to policy values is important, options such as purchasing a new policy owned by the ILIT rather than transferring an existing one may be considered. Timing matters: transfers completed shortly before death may still result in estate inclusion depending on applicable look-back rules. Before transferring a policy, consider the tradeoffs between removing proceeds from the estate and losing direct control over the policy. Discussing these considerations helps determine whether a transfer is appropriate or whether alternate strategies better match current objectives while preserving desired flexibility.
Premium payments to an ILIT are typically made by the grantor as gifts to the trust that the trustee then uses to pay insurance premiums. To qualify those contributions as present-interest gifts eligible for the annual gift tax exclusion, many ILITs include Crummey withdrawal rights, which provide beneficiaries a short window to withdraw the gift. These notices and records are part of proper administration and help satisfy tax rules related to gift timing and interest. Administration of Crummey rights requires providing beneficiaries with notice and documentation of the right to withdraw, while many beneficiaries choose not to exercise it to allow the funds to remain in the trust. Accurate recordkeeping of contribution dates, notices sent, and trustee actions is essential to support the intended tax treatment of the premium funding process.
An ILIT can be an effective tool to reduce the portion of a taxable estate that includes life insurance proceeds, provided the trust is properly structured and funded in accordance with tax rules. By transferring policy ownership to an irrevocable trust and relinquishing certain ownership rights, the policy’s proceeds may not be included in the grantor’s estate for estate tax purposes, which can reduce estate tax exposure for larger estates. In California, federal estate tax considerations and coordination with state rules should both be reviewed when evaluating an ILIT’s potential benefits. Timing, documentation, and administration are central to achieving favorable tax outcomes. Transfers made shortly before death or improper funding can jeopardize the intended savings. Working through these issues during the planning stage helps ensure the ILIT functions as intended and complements other elements of an estate plan.
Choosing a trustee involves balancing administrative ability, trustworthiness, and continuity. Many clients select a trusted family member or a professional trustee who can handle fiduciary responsibilities over time. It is also important to name successor trustees in the trust document to cover situations where the initial trustee cannot serve. A trustee’s duties include recordkeeping, paying premiums, communicating with beneficiaries, and managing distributions according to the trust terms. If a trustee becomes unable to serve, the successor trustee takes over according to the trust document. Clear succession planning prevents administrative gaps and ensures continuity. Discussing trustee responsibilities and contingencies upfront helps avoid potential disputes and provides clarity for the family and those charged with administration.
An ILIT is often coordinated with a revocable living trust or pour-over will to ensure assets and beneficiary designations operate cohesively. A pour-over will can move assets into a primary trust at death, while the ILIT independently owns and administers life insurance proceeds. Coordination ensures that distributions from various sources do not conflict and that tax and liquidity objectives are met. Reviewing all documents together prevents unintended overlaps or contradictions in beneficiary designations and distribution instructions. During planning, it is important to confirm that beneficiary designations on retirement accounts or other assets are aligned with trust provisions. Regular reviews help ensure that changes in accounts or relationships are reflected across all documents, preserving the overall intent of the estate plan and reducing administrative friction at the time of settlement.
Common pitfalls include transferring policies too close to the time of death without understanding the look-back rules that may bring proceeds back into the grantor’s estate, inadequate documentation of premium funding and beneficiary notices, and failing to coordinate the ILIT with other estate planning tools. Poorly drafted trust provisions or a lack of successor trustee planning can create confusion and disputes among beneficiaries. Addressing these issues when forming the ILIT reduces the chance of unintended tax or administration consequences. Another frequent mistake is neglecting ongoing administration, such as failing to provide required beneficiary notices or to maintain premium payment records. Good recordkeeping and periodic review of the trust and funding arrangements help prevent disputes and support the trust’s intended tax and distribution outcomes over time.
An ILIT may provide a measure of protection for life insurance proceeds from certain creditor claims, depending on the timing of transfers and applicable law. Once a policy is transferred to an irrevocable trust and the grantor has no ownership interest, proceeds are managed by the trustee according to the trust terms, which can create a barrier to creditor access in many situations. However, the level of protection depends on the timing and nature of transfers, any applicable fraudulent transfer rules, and specific creditor rights that may exist under state law. Divorce and related claims present separate considerations, since family law courts may examine the intent behind transfers and the timing relative to marital proceedings. Coordinating ILIT planning with family law counsel when there are potential marital disputes can help clarify expectations and reduce future challenges related to division of assets and claims against proceeds.
Establishing and funding an ILIT usually takes several weeks to a few months, depending on complexity, whether an existing policy is transferred or a new policy is purchased, and how quickly funding arrangements and beneficiary notices are completed. Drafting the trust document and completing transfer paperwork are essential steps that require attention to detail. If a new policy is purchased, underwriting timelines for the insurer may extend the process, while transferring an existing policy requires coordination with the carrier.
For your initial ILIT planning meeting, bring copies of existing life insurance policies, beneficiary designation forms, current estate planning documents such as trusts and wills, recent statements for financial accounts, and information about business interests or other significant assets. Provide a summary of family relationships, anticipated heirs, and any special financial needs. This documentation helps identify whether an ILIT fits your overall plan and allows for a practical discussion of trustee selection and funding strategies. Additionally, prepare questions about timing, tax implications, and how an ILIT will coordinate with other estate planning tools. Having this information available at the first meeting enables a focused analysis and helps us recommend an efficient, tailored approach that aligns with your objectives and provides clear next steps for implementation.
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