Massachusetts · Attorney-Style Template
Massachusetts Irrevocable Life Insurance Trust Template
Fill-in-the-Blank · State-Specific · Instant Download
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What's Included
Attorney-drafted Massachusetts Irrevocable Life Insurance Trust (ILIT). Removes life insurance proceeds from taxable estate. Includes Crummey withdrawal rights, trustee powers, and structured distribution provisions for beneficiaries.
Irrevocable trust declaration
IRC § 2042 (no incidents of ownership) compliance
Crummey withdrawal powers (annual gift tax exclusion)
Crummey notice procedure & template
Insurance policy ownership & beneficiary designation
Premium contribution structure
Spendthrift provisions
Generation-skipping tax (GST) planning
3-year IRC § 2035 compliance language
Successor Trustee provisions
Marital trust optional sub-trust
Notary acknowledgment block
Who This Is For
- Individuals with taxable estates (above the federal exemption)
- Owners of large life insurance policies
- High earners with significant insurance needs
- Families needing tax-free liquidity at death
NOT Appropriate For
- Anyone with a non-taxable estate (likely unnecessary)
- People unwilling to relinquish all incidents of ownership
- Insureds without a clear premium funding strategy
Legal Disclaimer
This template is for informational purposes only and does not constitute legal advice. No attorney-client relationship is formed by purchase. Consult a licensed Massachusetts attorney for advice specific to your situation.
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