Contact
← All workflows

Irrevocable Life Insurance Trust (ILIT)

Draft Complete ILITs in Minutes, Not Hours

12 minutes with CaseMark

Fast lane

We have it from here.

Choose the fast one-off run here, or jump into the workspace when you want saved history, revisions, and a fuller matter workflow.

Run this once here

Best for a quick one-off job. Add your email, upload the files, and we'll run the workflow and send the result to your inbox.

1. Add your email so we know where to send the result.

2. Upload the files you want analyzed.

3. Run the workflow and we'll take it from there.

Use in Workspace

Best for ongoing matters

Save and reopen matters, keep documents together, refine the output, rerun with changes, and export or share polished work product when you're done.

Open in Workspace

Need more context?

Scroll for the workflow details below if you want to review what this run handles, what documents help, and what the output looks like.

If this is part of a live matter, the workspace is the better fit: you can keep your documents together, revisit the result, and keep working without starting from scratch.

Jump to detailsOpen in Workspace

Start here

Run this workflow now

Best for a fast one-off run. Add your email, upload the files, and we'll deliver the result without sending you into the full app.

Workflow

Irrevocable Life Insurance Trust (ILIT)

Step 1 · Deliver to

Step 3 · Run this workflow

Workflow

Irrevocable Life Insurance Trust (ILIT)

Overview

Drafting an Irrevocable Life Insurance Trust manually requires hours of research across IRC provisions, state trust laws, and Crummey notice requirements. Attorneys must verify compliance with Section 2042, craft precise trustee powers, and ensure proper beneficiary designations—all while managing multiple templates and cross-referencing bar association guidelines.

Drafting an Irrevocable Life Insurance Trust manually requires hours of research across IRC provisions, state trust laws, and Crummey notice requirements. Attorneys must verify compliance with Section 2042, craft precise trustee powers, and ensure proper beneficiary designations—all while managing multiple templates and cross-referencing bar association guidelines.

CaseMark automates ILIT creation by intelligently drafting all required sections with built-in IRC compliance, Crummey withdrawal provisions, and jurisdiction-specific trust language. Simply input client details and policy information, and receive a comprehensive, attorney-ready trust document in minutes with proper citations and tax-compliant provisions.

How it works

  1. 1. Upload your documents

  2. 2. AI analyzes and extracts key information

  3. 3. Review and customize the generated content

  4. 4. Export in your preferred format (DOCX, PDF)

What you get

  • Declaration of Trust

  • Grantor and Trustee Information

  • Trust Property and Life Insurance Policies

  • Beneficiaries

  • Trustee Powers and Duties

  • Funding and Gift Provisions

  • Distributions Upon Death

  • Irrevocability and Amendment

  • Governing Law and Miscellaneous

  • Signatures and Notarization

What it handles

  • Declaration of Trust

  • Grantor and Trustee Information

  • Trust Property and Life Insurance Policies

  • Beneficiaries

  • Trustee Powers and Duties

  • Funding and Gift Provisions

  • Distributions Upon Death

  • Irrevocability and Amendment

  • Governing Law and Miscellaneous

  • Signatures and Notarization

Required documents

  • Client Information Sheet

    Grantor details, trustee information, beneficiary designations, and family structure

    .pdf, .docx, .txt

  • Life Insurance Policy Details

    Policy numbers, insurance company information, death benefit amounts, and current ownership details

    .pdf, .docx

Supporting documents

  • Existing Estate Planning Documents

    Current wills, trusts, or estate plans to ensure consistency and coordination

    .pdf, .docx

  • State-Specific Trust Requirements

    Jurisdiction-specific trust laws or bar association guidelines

    .pdf, .docx

  • Gift Tax Documentation

    Prior gift tax returns or annual exclusion tracking for premium funding strategy

    .pdf, .xlsx

Why teams use it

Generate complete ILITs with Crummey provisions and IRC 2042 compliance in under 15 minutes

Automated research pulls current tax code requirements and state-specific trust laws

Built-in trustee powers, spendthrift clauses, and beneficiary provisions from verified legal sources

Ensures proper gift tax planning with annual exclusion and premium funding mechanics

Reduces drafting time by 95% while maintaining attorney oversight and customization

Questions

How does CaseMark ensure my ILIT complies with IRC Section 2042?

CaseMark automatically incorporates current IRC 2042 requirements for estate tax exclusion, including proper irrevocability language and incident of ownership provisions. The platform references verified tax code sources and includes necessary disclaimers to keep life insurance proceeds outside the grantor's taxable estate.

Can CaseMark draft Crummey withdrawal notices for ILIT premium funding?

Yes, CaseMark generates compliant Crummey withdrawal provisions that satisfy IRC 2503(c) requirements for annual gift tax exclusions. The system includes proper notice language, withdrawal periods, and beneficiary rights to ensure premium gifts qualify for the annual exclusion.

How long does it take to create an irrevocable life insurance trust with AI?

CaseMark generates a complete, attorney-ready ILIT in approximately 12 minutes, compared to 5-6 hours of manual drafting. You simply provide client information and policy details, and the platform handles research, compliance verification, and document assembly.

Does the ILIT include state-specific trust provisions?

Yes, CaseMark incorporates jurisdiction-specific trust laws, execution requirements, and governing law provisions based on your selected state. The platform searches current bar association guidelines and state statutes to ensure local compliance.

What trustee powers are included in the automated ILIT?

CaseMark includes comprehensive trustee powers for policy management, premium payments, investment authority, and distribution decisions. All powers are drafted to comply with fiduciary duty standards and include appropriate limitations to maintain the trust's irrevocable status.

Can I customize the beneficiary distribution provisions?

Absolutely. While CaseMark generates standard per stirpes distributions and spendthrift provisions, you maintain full control to customize beneficiary designations, create sub-trusts, or add specific distribution conditions before finalizing the document.

How does CaseMark verify the trust's irrevocability is properly drafted?

CaseMark includes explicit irrevocability language that meets federal and state requirements, with limited amendment provisions that preserve tax benefits. The platform cross-references IRS rulings and case law to ensure the grantor retains no prohibited powers that could cause estate inclusion.

Related

Access and Indemnity Agreement (Due Diligence)

Draft Property Access Agreements in Minutes with AI

Access Indemnity Agreement

Draft Access & Indemnity Agreements in Minutes

Ad Fund Agreement

Draft Ad Fund Agreements in Minutes, Not Hours