The Marital Basic ILIT is a Co-Grantor Irrevocable Life Insurance Trust (ILIT) designed for a married couple. It provides all of the same features and benefits of the Sole-Grantor ILIT (see Product #07) but with the added feature of a Co-Grantor (husband & wife) format.

This particular trust is designed primarily, although not necessarily, for holding a last-to-die life insurance policy. Only the straight/outright distribution provisions are available to beneficiaries over the age of 21 years in this trust.