How to Terminate an Irrevocable Life Insurance Trust?
How to Terminate an Irrevocable Life Insurance Trust, Terminating an Irrevocable Life Insurance Trust (ILIT) involves: Obtaining beneficiary consent. Filing a petition with the court if necessary. Ensuring trustee cooperation. Addressing tax implications. Executing legal documents. Consult with legal and financial professionals for guidance tailored to your specific circumstances and state laws. Irrevocable Life…