How Much Does An Irrevocable Life Insurance Trust Cost?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    To find out the cost of an Irrevocable Life Insurance Trust you would need to ask your attorney. It is not wise to set up an Irrevocable Life Insurance Trust with a software kit; only an attorney with expertise in tax planning should set up this type of Trust. Once it is done, it cannot be changed directly by the Insured, and the Trust is the Owner and Beneficiary of your policy or policies. That being said, if it is set up correctly and the Trustee is someone you trust (pardon the pun), an Irrevocable Life Insurance Trust can save you a large amount of estate taxes and allow you to transfer your estate in an orderly way.
    Answered on June 21, 2013
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