What exactly is an IRREVOCABLE LIFE INSURANCE TRUST?

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:
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CBD: Helps so many animals with pain, inflammation, anxiety, stress just as it does with humans. (Pet & Human Grade)

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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.
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