Life Insurance Trust Review

Pass down your legacy, on your terms.

The irrevocable life insurance trust (ILIT) is a popular tool for helping families like yours preserve and grow their legacies for generations to come. Often, families choose to incorporate ILITs into their estate-tax mitigation or asset protection plans.

The life insurance policies held by ILITs represent sizable wealth built over decades — wealth that deserves the same level of care and attention as any other financial asset.

But that’s usually not the case. Many ILIT grantors and trustees have a “set-it-and-forget-it” mentality when it comes to their life insurance assets, which can jeopardize future generations. Risks that can affect ILIT policy results are:

  • Return underperformance
  • Counterparty risk
  • Policy loan risk
  • Incorrect ownership or beneficiary arrangements
  • Failure to keep up with needs

The good news? We can help.

If you are a grantor or trustee of an ILIT, but have not actively managed the life insurance asset, you might benefit from our Policy Audit and Review (PAR) Process. The PAR Process will give you the opportunity to assess the risks outlined above, and determine whether a new or alternative policy could provide a better long-term result for trust beneficiaries.

Our team can also help you develop a plan to fulfill your fiduciary duties, as an ILIT trustee, and ensure that the trust assets are managed and supervised effectively. Contact our team.

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Learn more about our PAR Process
 

Hewins Financial Advisors, LLC d/b/a Wipfli Hewins Investment Advisors, LLC (“Hewins”) is an investment advisor registered with the U.S. Securities and Exchange Commission under the Investment Advisers Act of 1940. Hewins is a proud affiliate of Wipfli LLP. Information pertaining to Hewins’ advisory operations, services and fees is set forth in Hewins’ current Form ADV Part 2A brochure, copies of which are available upon request at no cost or at www.adviserinfo.sec.gov

Securities, when offered, may be offered through an affiliated broker-dealer Hewins Brokerage Services, LLC, member FINRA; Office of Supervisory Jurisdiction: 2501 Beltline Hwy, Suite 401, Madison, WI 53713, 1-888-520-3040. Securities may also be offered through ValMark Securities, Inc. Member FINRA, SIPC; 130 Springside Drive, Suite 300, Akron, Ohio 44333-2431, 1-800-765-5201. Hewins is a separate entity from ValMark Securities, Inc.