E4 Insurance Service’s very own, Steve Walker, Vice President of Institutional Accounts, discusses the benefits and opportunities of Irrevocable Life Insurance Trusts (ILIT). An Irrevocable Life Insurance Trust (ILIT) is a type of trust that can be used to help clients transfer wealth to future generations in an efficient manner. Most people do not want to pay more in taxes than they have to, but if you are a high-net-worth individual you may have an estate tax bill due when you die. Watch this addition of the BREW if you are an advisor who wants to sharpen your saw by learning what an ILIT is, how an ILIT works, and why an ILIT may be able to increase your client’s legacy while decreasing estate taxes!
