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Irrevocable Life Insurance Trust (ILIT)

The Irrevocable Life Insurance Trust (ILIT) is one of the most powerful tools of an estate planner. The primary asset held by this Irrevocable Trust is life insurance. The Trust is used to remove life insurance death benefits from the insured's gross estate. This allows the full value of the life insurance death benefit to provide liquidity for the payment of estate taxes and administrative expenses.



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