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	<title>New answer on: How To Create An Irrevocable Life Insurance Trust?</title>

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		<title>By: Peggy Mace</title>

		<link>https://www.insurancelibrary.com/life-insurance/how-to-create-an-irrevocable-life-insurance-trust</link>

		<dc:creator>Peggy Mace</dc:creator>

		<pubDate>Sat, 15 Jun 2013 15:16:53 +0000</pubDate>

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		<description><![CDATA[To create an Irrevocable Life Insurance Trust (ILIT), start by meeting with your attorney to draft the trust. You yourself will not be able to make changes to it later so it is important to set it up correctly. It is also important that you set up an executor or trustee who you trust (the attorney who set it up is also often named trustee).

Then transfer Whole Life or Universal Life into the trust with the assistance of both your attorney and life insurance agent. Existing policies can be transferred with a change of policy owner form. New policies are set up with the irrevocable trust as owner.

Once the Irrevocable Life Insurance Trust is active, you can visit with the trust executor about your ongoing wishes.]]></description>

		

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