How do I fund an irrevocable life insurance trust?

How do I fund an irrevocable life insurance trust?

Fund the ILIT – An ILT can be funded in one of two ways: Transfer Existing Policy: You can transfer an existing policy to the trust and name the trust as the beneficiary of the policy. … Buy New Policy: To avoid the three-year rule as explained above, the trustee can purchase a new life insurance policy on your life. Jan 21, 2019