David Lappots Insurance

An ILIT is an irrevocable trust that you create to hold a life insurance policy on your life. It is typically used to benefit your spouse and your children by holding the policy proceeds in trust after your death.👇

Should Your Life Insurance Be In An Irrevocable Trust? An irrevocable life insurance trust (known as an ILIT) is a excellent vehicle for saving on estate taxes if you understand the ins and outs of setting up and maintaining the ILIT.