Life Insurance Trust (ILIT) Calculator
Calculate ILIT premium obligations and estate tax savings from removing life insurance from your estate.
Legal Disclaimer
This calculator provides general estimates only and does not constitute legal advice. Laws, regulations, and court procedures vary significantly by jurisdiction. Consult a licensed attorney in your area for advice specific to your situation.
Inputs
Results
Estate Tax Saved
$800,000
Net Savings
$470,000
How to Use This Calculator
- Enter Death Benefit of the policy to be held in the ILIT.
- Set Annual Premium and Years Remaining of premium payments.
- Enter Estate Tax Rate — the ILIT keeps life insurance proceeds out of your taxable estate.
- Set Number of Beneficiaries and Trustee Annual Fee.
- Review Estate Tax Saved — the key benefit of an ILIT is removing the death benefit from your gross estate.
- Premiums paid into an ILIT use your annual gift tax exclusion ($18,000/beneficiary in 2024).
Related Calculators
Estate Tax Calculator
Calculate federal estate tax using 2024 graduated brackets (18%-40%) from gross estate, deductions, and credits.
Trust Distribution Calculator
Calculate beneficiary distribution amounts from a trust based on value, rate, and fees.
Charitable Remainder Trust Calculator
Calculate CRT income stream, charitable deduction, and tax savings.
Estate Settlement Cost Calculator
Estimate total estate administration costs including attorney, executor, court, and accounting fees.