Course 2.3 · 60 minutes

The Irrevocable Life Insurance Trust

Keep a large policy out of your taxable estate with an ILIT, and run it correctly year after year so the IRS respects it.

Who it is for: Families whose estate could exceed the exemption, and owners of large policies.
Runtime: 60 minutes · Headliner course

Pre-order: this course is in development and appears in your portal the day it is released. Buy 5 or more and every course is 30% off.

See the full track See the full curriculum

Instant download after payment. Nothing is withheld for a later purchase.

What you receive

ILIT Administration Manual with an annual calendar
Crummey Notice template, annotated
Trustee Duties checklist
ILIT Funding Flow diagram in the house style
Estate Inclusion decision tree
The narrated lesson. 60 minutes, cued to the deck, with chapter markers by lesson. Emailed to you the day it publishes, at no extra cost.

What the course covers

01Why your policy is in your estate: incidents of ownership6 min
02How an ILIT works: the trustee owns it, the trust collects it, the family gets it8 min
03Annual exclusion gifts and Crummey withdrawal rights8 min
04The three-year rule for existing policies and how a new policy avoids it5 min
05Setting it up: trustee choice, drafting points, the tax identification number, and the bank account7 min
06Running it: premium gifts, notices, gift tax returns, and generation-skipping allocation9 min
07Worked example: a 5 million dollar policy, a 50,000 dollar premium, and three children7 min
08Tricks of the trade: hanging powers, spousal access, and buying business interests at death6 min
09Mistakes and traps: paying premiums yourself, missing notices, and the insured as trustee4 min

How it fits: Requires 2.1 and 3.3. Pairs with 2.5 and 6.5.

The standard every course holds

A narrated lesson of 45 to 60 minutes, produced as audio
A designed slide deck you download and keep
A computational workbook that runs the actual legal tests
A toolkit of checklists and protocols
A legal authority appendix carrying the two-pass vetting protocol

Written for a diligent reader with no legal education. Professionally narrated using a studio voice model of Brian T. Boyd. The course is recorded instruction, not a live consultation.

Where this course sits

Track 2: Life Insurance

This course is one step in a track built around a single outcome. See the full build order and the other courses that get you there.

Back to this track

Educational material from the private client curriculum of Brian T. Boyd. This is legal education for a general audience, not legal advice, and no attorney-client relationship is created by purchasing, viewing, or using it. Tax outcomes depend on your facts and your state.