What exactly is an IRREVOCABLE LIFE INSURANCE TRUST?

4 months ago
232

TAKE A RIDE . . . with Fearless Floyd and what exactly is an IRREVOCABLE LIFE INSURANCE TRUST? An irrevocable life insurance trust (ILIT) is a type of trust that is established during the grantor's lifetime and is designed to hold one or more life insurance policies. Once created, the terms of the trust cannot be changed or revoked, which means the grantor cannot alter the trust or reclaim any assets placed within it.

The primary purpose of an ILIT is to provide certain advantages, such as avoiding estate taxes, protecting assets from creditors, and ensuring that the proceeds from the life insurance policy are used according to the grantor's wishes.

The trust is managed by a trustee, who is responsible for paying the premiums on the life insurance policy and distributing the death benefit to the beneficiaries as specified in the trust agreement.

Grantor: The person who creates and funds the trust.
Trustee: Manages the trust and ensures compliance with the trust agreement.
Beneficiaries: Receive the benefits from the trust according to the grantor's instructions.

Establishing an ILIT requires the grantor to relinquish control over the assets placed in the trust, making it an irrevocable decision

What are known as Conspiracy Theories - we know as suppressed facts . . .

MUSHROOM IMMUNE SUPPORT SUPPLEMENTS:
Go to Link: FearlessFloydPets.com
MUSHPUPPIES: Helps the immune system work at an optimum level for many health issues in Canines.
MUSHPONIES: Helps the immune system work at an optimum level for many health issues in Horses.
INFORCE: Helps the immune system work at an optimum level for many health issues in Humans.
CBD: Helps so many animals with pain, inflammation, anxiety, stress just as it does with humans. (Pet & Human Grade)

TOPICS OF CURIOSITY . . . Fearless Floyd addresses a variety of trending topics with Fact Evidence, Questions and Answers lead to an adventure of a variety of topics; anything and everything Fearless finds interesting and cool. Get in and let’s ride for the in's and out's, daring tales of adventures and warnings how it all really works.

Ann LeFlore – on Trusts: How to Create and Operate a Revocable, Irrevocable, Foreign, Land, Express, College Tuition, and Charitable Remainder Trusts all in one Book.
Link to Book: https://thefearlessfloydshow.com/store

FAIR USE ACT DISCLAIMER: This site is for fun and educational purposes only fair use. If content shown is Copyright protected by its Registered Owner and is sole property of Record Owner and is for "Fair Use" for Educational/Enterntainment Purposes.

P.S. Do your own research! All still Photos and Video were filmed by and Property of: Fearless Floyd Pleasant Tarvin IV
Copyright © 2021-2025 FLOYD PLEASANT TARVIN IV ©. All rights reserved. Any unauthorized duplication or use in any manner is strictly prohibited and will be civilly, criminally and commercially enforced by Record Owner. For permission of use email: [email protected].
EPISODE-1156

Loading comments...