An ILIT is an irrevocable life insurance trust. Irrevocable means can't be revoked, can't be changed once you set it up.
The most common reason for setting up this trust is to create a separate entity that owns the life insurance. Life insurance is considered property and the property of the life insurance in an ILIT [...]
Related Headlines
- Fifth Circuit hears arguments in Leonard v. Nationwide Katrina appealposted 62 weeks ago on Insurance Coverage Blog
- Washington Supreme Court: dentist's 'boar'-ish behavior is coveredposted 60 weeks ago on Insurance Coverage Blog
- Bloomberg story on insurance company bad faithposted 62 weeks ago on Insurance Coverage Blog
- Around the insurance world todayposted 60 weeks ago on Insurance Coverage Blog
- A last word this week on In Re Katrina Canal Breaches Litigationposted 62 weeks ago on Insurance Coverage Blog
- A couple Fifth Circuit Katrina cases from earlier this weekposted 61 weeks ago on Insurance Coverage Blog
- Potpourri Thursdayposted 61 weeks ago on Insurance Coverage Blog
- Florida insurance updateposted 61 weeks ago on Insurance Coverage Blog
- George Dale: insurance companies paid Katrina money they did not oweposted 48 weeks ago on Insurance Coverage Blog
- Katrina round-upposted 61 weeks ago on Insurance Coverage Blog