Insurance trust funding is the process of moving money into an irrevocable life insurance trust (ILIT) to pay premiums and administer the policy. Common approaches include annual-exclusion gifts supported by timely Crummey notices, split-dollar arrangements, or intra-family loans. Trustees manage contributions, send notices, pay premiums, and keep administrative records. Proper funding keeps the policy in force and aligns ownership with estate-tax and asset-protection goals.
Trustees send Crummey notices, receive gifts, and pay premiums on schedule. Advisors document the process and retain proof for audit and beneficiary communications.
Insurance trust funding is the process of moving money into an irrevocable life insurance trust (ILIT) to pay premiums and administer the policy. Common approaches include annual-exclusion gifts supported by timely Crummey notices, split-dollar arrangements, or intra-family loans. Trustees manage contributions, send notices, pay premiums, and keep administrative records. Proper funding keeps the policy in force and aligns ownership with estate-tax and asset-protection goals.
Trustees send Crummey notices, receive gifts, and pay premiums on schedule. Advisors document the process and retain proof for audit and beneficiary communications.