What is an irrevocable life insurance trust (ILIT) and how does it work?
Answered by 1 licensed agent
Only needed if you are very wealthy (have a large estate) and want to control who receives the money, have some minors who may not be financially responsible, or you want to help reduce potential estate taxes.
Answered by Tim Cassidy on July 7, 2026
Broker Licensed in TX, AL, AR & 35 other states
Tags: Financial Planning
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