Irrevocable Life Insurance Trust (ILIT) Fundamentals & Benefits: Janet Tempel, Sr. Trust Officer

This episode focuses on the fundamentals of Irrevocable Life Insurance Trusts (ILITs). We spoke with trust expert, Janet Tempel, Senior Trust Officer at Peak Trust Company to cover:

  • What is an Irrevocable Life Insurance Trust?
  • What are the benefits of using an ILIT?
  • How should the attorney/trustee work together to set expectations with clients about the process of setting up an ILIT?
  • How do tax returns for an ILIT work?
  • And much more…