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 09) Married Person GST Trust

  • The Married Person GST ILIT is a Sole-Grantor Irrevocable Life Insurance Trust (ILIT) designed for a married individual. It provides all of the features of both previous ILIT formats (#07 & #08), including distributable net income distribution provisions for the benefit of the surviving spouse, plus an additional generation skipping format.

  • This trust is for the patriarch (or matriarch) who wishes to establish an irrevocable trust to hold a large life insurance policy that would benefit his spouse and/or children upon his death but have the ultimate distribution of the insurance proceeds go to his grandchildren or other “generation skip” persons.

       

     
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