The Irrevocable Life Insurance Trust, a Versatile Tool in Estate Planning

Click here to register for the in-person seminar

Host: Michael Varela

Please join us at our office for a one-hour presentation designed to help you learn how to effectively plan for your clients. As part of a monthly webinar series offered through WealthCounsel, this course will explore some of the many uses of the irrevocable life insurance trust (ILIT) in estate planning. We will review selected issues in the estate, gift, generation-skipping, and income tax treatment of transfers to and administration of an ILIT. We will discuss: 

• Determining whether to design an ILIT as a “grantor trust”
• Options for attaining grantor trust treatment
• The estate, gift, generation-skipping, and income tax consequences of transfers to an ILIT
• Multigeneration ILITs
• Administering an ILIT
• Crummey demand notices
• Premium payments
• Distributions
• Tax reporting
• What to do when an ILIT no longer serves the Grantor’s goals
• Distributions
• Trust-to-trust sales
• Decanting
• Amendments

Earn 1 hour of CLE, CFP, or CPE credit

In order to be awarded the full CLE, CFP, or CPE credit hour, you must be present during the entire educational presentation.