This course provides a thorough and hands-on exploration of Irrevocable Life Insurance Trusts (ILITs)—a cornerstone tool in estate planning, wealth preservation, and tax mitigation. Learners will gain practical, actionable knowledge on how to design, implement, fund, and administer ILITs to remove life insurance proceeds from taxable estates, protect them from creditors, and ensure efficient wealth transfer to beneficiaries.
The course goes far beyond definitions. It teaches how ILITs function in real-world planning, how to avoid common drafting and funding mistakes, and how to integrate ILITs with broader estate and asset protection structures.
Participants will finish with a personalized ILIT blueprint—ready for execution and long-term management.
Course Objectives
By the end of this course, participants will be able to:
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Understand the legal foundation, purpose, and benefits of Irrevocable Life Insurance Trusts.
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Draft and structure ILITs to exclude policy proceeds from taxable estates.
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Implement funding and Crummey power procedures correctly.
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Integrate ILITs with estate, business succession, and asset protection strategies.
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Manage compliance, fiduciary duties, and IRS reporting requirements.
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Identify and correct common mistakes that jeopardize ILIT effectiveness.
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Build a step-by-step ILIT creation and administration plan for real clients or personal use.
