Who Is The Grantor Of An Irrevocable Life Insurance Trust?

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    Peggy Mace
    Most of the U.S.
    The Grantor of an Irrevocable Life Insurance Trust (ILIT) is the person who creates the trust. He/she is usually the Insured person on the policy that is put under the ownership of the trust, and is usually also the Owner of the policy, thus transferring ownership to the irrevocable life insurance trust.
    Answered on June 24, 2013
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