INDEPENDENT GUIDANCE. FIDUCIARY DUTY.
Irrevocable Life Insurance Trusts (ILITs)
Irrevocable life Insurance Trusts (ILITs)
An Irrevocable Life Insurance Trust (ILIT) can be one of the most effective estate-planning tools for preserving wealth, providing liquidity, and minimizing estate taxes. But these benefits are only realized when the trust is administered properly. Too often, ILITs are undermined by missed premium payments, overlooked notices, or inadequate documentation — mistakes that can jeopardize the very plan they were designed to secure.
My Role as Trustee
I provide professional, independent administration for ILITs of all sizes. My role is not to sell products or manage investments, but to ensure that every trust is carried out in exact accordance with its terms and with best fiduciary practices. This includes:
- Premium Payment Oversight
- Coordinating timely payment of life insurance premiums.
- Communicating with insurance carriers and monitoring policy performance.
- Crummey Notice Administration
- Preparing and delivering beneficiary notices to ensure annual gifts qualify for the gift-tax exclusion.
- Maintaining records that protect both grantors and beneficiaries in the event of IRS review.
- Recordkeeping & Reporting
- Keeping accurate, detailed records of contributions, notices, and disbursements.
- Providing clear annual accountings to beneficiaries.
- Continuity & Neutrality
- Serving as an impartial trustee, free from family conflicts or divided loyalties.
- Ensuring continuity of administration across generations.
Why This Matters
An ILIT is often the cornerstone of an estate plan. Without diligent administration, the trust can fail to achieve its purpose, exposing families to unnecessary taxes or disputes. By appointing a professional fiduciary dedicated to the administration function, you ensure that the strategy your estate-planning attorney designed is faithfully executed for the long term.
Fee Structure
ILIT administration is offered on a transparent flat annual fee basis.