Undoing an Irrevocable Life Trust

Can You Really Change What Was “Set in Stone”? When clients hear the word “irrevocable,” they assume it means forever. And in many cases, that’s true — an Irrevocable Life Insurance Trust (ILIT) or other irrevocable trust is designed to be permanent. However, life changes: families evolve, tax laws change, and financial goals shift. So what happens when a trust you created years ago no longer works for you? Can you undo an irrevocable trust? The answer is: sometimes — but it’s complicated.

Faith Otutu

Author