Irrevocable Life Insurance Trust (ILIT) Cost & Trustee Fees
Simple explanation of an Irrevocable Life Insurance Trust (ILIT) and Irrevocable Life Insurance Trust Cost of the trustee fee schedule
An Irrevocable Life Insurance Trust (ILIT) allows for a grantor to have a life insurance policy on their life and for a trust to be the owner and beneficiary of the life insurance policy. This allows for the life insurance proceeds to not be included in the grantors estate at their passing.
Irrevocable Life Insurance Cost and Trust Fee Schedule*
Onetime Set up Fee
$750
Annual Fee
$3,000 (for one life insurance policy)
Additional Annual Fee
$500 (for each extra life insurance policy)
*Fees for extraordinary or non-standard services will be charged on a time and expense basis, payable by trust assets, for all personal and charitable trustee/trust services.
