Irrevocable Life Insurance Trust (ILIT)
Keeping Insurance Outside the Estate
This trust sounds technical at first — but becomes very relatable once people understand what it’s actually doing. Most people do not realize life insurance itself can create estate tax issues.
An ILIT is an irrevocable trust designed to own and manage life insurance policies outside of a person’s taxable estate.
- reduce estate tax exposure
- provide liquidity
- preserve family wealth
- create structured inheritance planning
“Life insurance always passes tax free.”
While life insurance proceeds are often income-tax free, they may still become part of a taxable estate under certain circumstances.
- High-net-worth families
- Business owners
- Families with large insurance policies
- Multi-generational planners
This trust is less about insurance itself — and more about how wealth moves after death.
The Deep End
Grantor Retained Annuity Trust (GRAT)
Freezing the Value
VIII.3Intentionally Defective Grantor Trust (IDGT)
Broken on Purpose
VIII.4Pet Trust
Planning for the Animals We Love
VIII.5Digital Asset Trust
The Estate You Cannot Touch
Schedule a Complimentary 30-Minute Consultation
At Hurwitz.Law, we believe that thoughtful planning begins with a meaningful conversation.
We offer a private, 30-minute consultation—by phone or Zoom—for individuals and families considering estate planning, elder law, or trust administration services. This conversation allows us to understand your goals, answer your questions, and help determine whether our firm is the right fit for your needs.
Our firm is intentionally boutique. We work with a limited number of clients so that we can provide a high level of personal attention and care. If we’re not the right fit, we’ll do our best to point you in the right direction.
This consultation is not a sales pitch. It’s a conversation rooted in clarity, respect, and the belief that your time—and your legacy—deserve both.
Schedule a ConsultationPrefer to talk first? Call us at (215) 967-7890.