
6 minutes read
What Is an Irrevocable Life Insurance Trust (ILIT)?
Contributed by: Briak Sak, CFP, CLU, ChFC
When clients begin to think more intentionally about their legacy, few tools offer the flexibility, control, and tax advantages of an Irrevocable Life Insurance Trust, or ILIT. Often overlooked in general financial planning conversations, the ILIT is a sophisticated estate planning solution that can address multiple objectives: preserving wealth across generations,…