Revocable Life Insurance Trust

Revocable Life Insurance Trust

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Revocable Life Insurance Trust

Revocable Life Insurance Trust definition:  A revocable life insurance trust (RLIT) is a trust funded with proceeds from a life insurance policy. As the name implies, these trusts are revocable (modifiable).  When the grantor has ability to revoke the trust or make changes, the trust is usually included in the grantor’s taxable estate.

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