Home
Forms Library
Irrevocable life insurance trust form

Life insurance trust form 2025

irrevocable life insurance trust form Preview on Page 1

See details

4 out of 5

52 votes

The document provides a sample form of an Irrevocable Life Insurance Trust (ILIT) designed for individuals who are married, outlining its structure and provisions. It includes a contingent Marital Trust for QTIP marital deduction eligibility and a Family Trust that allows the surviving spouse to act as trustee without negative estate tax implications. The form is intended to complement the grantor's primary estate planning documents and complies with Michigan's legal requirements.

Here's how it works

01. Edit your irrevocable life insurance trust form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send life insurance trust form via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out life insurance trust form with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the life insurance trust form in the editor.
Begin by entering the grantor's information, including their name and contact details. This section is crucial as it identifies who is establishing the trust.
Next, fill in the details of the insured individual. Ensure accuracy here, as this person’s life insurance policy will be held within the trust.
Proceed to complete the contingent marital trust section. Here, you will need to provide information about how assets will be managed for a surviving spouse, ensuring compliance with QTIP marital deduction requirements.
In the Family Trust section, specify any ascertainable standards that allow for flexibility in management by the surviving spouse without adverse tax consequences.
Finally, review all entries for accuracy and completeness before saving your document. Utilize our platform’s features to sign and distribute your completed form securely.

Start using our platform today to effortlessly complete your life insurance trust form online for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the least expensive way to set up a trust?

Hiring an estate planning attorney to set up a trust and transfer your assets often costs over $1,000. Doing it yourself with an online will maker is more affordable, but can require more effort.

What is the fee for setting up a trust?

The cost to set up a standard Trust is $749 (which includes GST) + relevant State Stamp Duty.

Is there a monthly fee for a trust?

If youve appointed a professional trustee, like a bank or trust company, they may charge an annual fee for their services. These fees often range from 1% to 2% of the trusts assets, though they can differ based on trust complexity and total value.

Should I put my life insurance in a trust?

Most people do not need to place their life insurance in a trust. This is because life insurance trusts can be expensive to form and can create significant tax and legal ramifications. They can also add unnecessary complexities to estates.

Does a life insurance trust file a tax return?

If the trust has gross income of $600 or more during any taxable year, then it must file an income tax return on Form 1041 for each such year.

irrevocable life insurance trust forms

Life insurance trust form california Printable life insurance trust form Life insurance trust form pdf Free life insurance trust form Life insurance trust form online Life insurance trust form 2021 Irrevocable life insurance trust form Life insurance trust example

Related forms

be ready to get more

Complete this form in 5 minutes or less

Get form

How much does it cost to set up a life insurance trust?

An attorney specializing in estate law will charge from about $900 to as much as several thousand dollars to set up and fund a trust.

Are life insurance trusts worth it?

They can also add unnecessary complexities to estates. However, if you have substantial wealth you want to protect, a life insurance trust could be a valuable tool for estate planning. It can also be useful if you want to leave money to underage or special-needs children.

How to create a trust for life insurance?

How to set up a trust for life insurance Work with an estate attorney. The good news is that you dont have to figure out how to put life insurance in a trust on your own. Choose a trustee. Select a life insurance trust beneficiary. Provide your financial professionals with copies of the trust.

Life insurance trust form 2025

Here's how it works

How to use or fill out life insurance trust form with our platform

Complete this form in 5 minutes or less

Got questions?

What is the least expensive way to set up a trust?

What is the fee for setting up a trust?

Is there a monthly fee for a trust?

Should I put my life insurance in a trust?

Does a life insurance trust file a tax return?

Complete this form in 5 minutes or less

People also ask

How much does it cost to set up a life insurance trust?

Are life insurance trusts worth it?

How to create a trust for life insurance?

irrevocable life insurance trust sample

Try more PDF tools