Estate Planning & Irrevocable Life Insurance Trusts (ILIT)

Peace of mind for your legacy

An Irrevocable Life Insurance Trust (ILIT) can build greater control into your estate planning, allowing you to decide exactly when, where, and to whom your assets will be distributed after you’re gone. By removing ownership and control of a life insurance policy from an estate, an ILIT shelters your property from creditors and avoids estate taxation of life insurance death proceeds, freeing up funds to help meet liquidity and survivor income needs.

With an ILIT funded with life insurance products from The Principal and serviced by Principal Trust, you can feel confident that your estate plan is in trustworthy hands.
 

  • Ensure that your assets will be distributed according to your wishes, to minimize financial burdens and protect against disputes among your beneficiaries.
  • Let Principal Trust work with your financial professional and attorney to take the worry out of estate planning.
  • Leverage unique Delaware tax advantages, including maximum privacy, strong asset protection and perpetual duration, no matter where you live.

Minimize expenses, maximize your assets.

In addition to ILITs, The Principal offers other personal trust options for keeping taxes low and distributions equitable.

  • Private split dollar arrangements
    Provide estate tax protection and maximize the use of available gift tax annual exclusions for your beneficiaries.
  • Charitable trusts
    Remove assets from an estate, obtain an income tax deduction, and secure an income stream to purchase life insurance for the benefit of your heirs.
Have a Principal® policy or plan?

Access your account information online.

We're here to help

Call Principal Trust Company at 800-332-4015 or email us to discuss your estate plan. 

Help on achieving peace of mind for your legacy

Personal Trusts: Building a secure future for the ones you love

We all want to protect the people we love most. And while it’s impossible to predict what the future may bring, it is possible to prepare for it—with a personal trust.

Create a flexible plan for the future—Whatever it brings

A family who wants to take control of their savings and build a secure financial future.

Your savings action plan: Take control of your retirement