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Acronymfinder

What does ILIT stand for?

ILIT stands for Irrevocable Life Insurance Trust


This definition appears very rarely and is found in the following Acronym Finder categories:

  • Business, finance, etc.

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Other Resources:
We have 2 other definitions for ILIT in our Acronym Attic

Samples in periodicals archive:

We've spent decades protecting our clients from the eroding effects of estate taxes, advising them to keep their life insurance outside of the estate, in an Irrevocable Life Insurance Trust (ILIT), in order to leverage the tax advantages of the death benefit.
Through shifting assets into tax-free irrevocable trusts and the use of second-to-die life insurance, clients are excited to learn they may leverage assets on a tax-free basis within an irrevocable life insurance trust (ILIT).
Life insurance can provide an "instant" source of liquidity to the estate of an owner of a closely held business, preferably when the policy insuring the business owner's life is held by an irrevocable life insurance trust (ILIT).