The ILIT Process
Establishing and managing a life insurance trust involves more than simply setting it up. There are specific steps that must be handled carefully at the beginning, and ongoing responsibilities that continue for years. FCG Trust Management takes an active role at every stage of the process—working with families and advisors to ensure the trust is implemented correctly, administered consistently, and ready to function as intended when it’s needed most.
1. Initial Planning Conversation
We work with you and your advisors to clarify planning goals, insurance needs, and the role of the trustee.
2. ILIT Drafting
We support the drafting process by coordinating with advisors, reviewing the trust structure, and ensuring it is prepared for efficient, long-term administration.
3. Execution & Implementation
We accept trusteeship, coordinate execution of the trust, and work with the insurance carrier to align policy ownership and beneficiary designations.
4. Annual Administration
We receive contributions, send required Crummey notices, manage withdrawal periods, and pay insurance premiums on schedule.
5. Ongoing Oversight
We monitor policy status, maintain records and accounting, and communicate with advisors as needed to keep everything on track.
6. Post-Death Administration
We coordinate with the insurance carrier to collect proceeds and administer the trust in accordance with its terms, supporting beneficiaries throughout the process.
Have Questions? Let's Talk.
If you’re considering a life insurance trust—or already have one in place—a short introductory call can help clarify next steps. We’re happy to answer questions, explain how the process works, and help you understand whether professional trust administration is a good fit for your situation.