It is not necessary that the service provider for an Irrevocable Life Insurance Trust be located in the state where the trust is domiciled. With that in mind we are providing a central location and ease of contact either by toll free phone (1-888-560-4343) or Internet at service@ilithelp.com for your convenience in contacting Trustconsult. Trustconsult will be working for the trustee of the ILIT. A letter outlining the relationship between Trustconsult and the trustee, with direction to Trustconsult will be required. Trustconsult will either mail the beneficiary notices directly to the beneficiaries on behalf of the trustee or return the notices to the trustee for signature and mailing. Out of pocket expenses for postage, Certified Mail, and FAX will be billed to the trustee.
Once Trustconsult has received the required information from the trustee and attorney, a schedule will be set up and sent to both trustee and attorney which will include the dates of upcoming events. Notification will be given to both (and also to insurance agent if requested) at the time the deposit is required. Once the deposit is made, the beneficiary notices will be prepared and sent.
When the notice period has lapsed, the trustee, attorney and agent will be notified that the premium can be paid. A final summary of dates and parties will be sent to the parties as needed for their records. All original documents received from beneficiaries will be sent to the trustee for safekeeping.
This process is proven, and is working currently for a number of ILIT's. Trustees and attorneys are using this service with confidence. If you have questions please call toll free at 1-888-560-4343.