![[Irrevocable Life Insurance Trust] , [ILIT] front](https://udimg.com/v1/preview/mug/front.webp?bg=FFF200&fg=000000&fill=FFFFFF&logo-variant=dark&word=%5BIrrevocable%20Life%20Insurance%20Trust%5D%20%2C%20%5BILIT%5D&size=md)
[Irrevocable Life Insurance Trust] , [ILIT] Mug
Used primarily for estate creation, estate preservation, and estate conservation. Basically, a irrevocable trust is drafted (meaning drafted, designed, and created by a licensed JD professional aka a lawyer and/or attorney) to hold a LARGE life insurance policy on the insured (usually a parent(s), or the spouses parent(s), and upon materialization of the death certificate, the ILIT receives the death benefit insurance proceeds tax free!!! Yes, that's right, tax free! Most the time insurance proceeds are tax free, but there's the exemption limit, so even if the death benefit is WELL OVER the current exemption limit, the entire thing is passed tax free to the trust. The trust itself then has beneficiaries who receive the proceeds in accordance with the trusts design and instructions.
The Urban Dictionary Mug
Customer Reviews
i was put on a list for buying this mug. 10/10 would recommend
Great customer service and was a fun surprise for an inside joke to a coworker. 😊
Nice cup! Seems to be a quality piece.
This mug reminds me of when I was happy. When I was a wee little winker enjoying the wonders of this life!
The, "Wenomechainsama" Mug has amazing quality and an amazing definition! Can't belive my child's generation is so funny! Love - Sharen, 55, On facebook !<3
this mug reminds me of my cat, it does nothing and cant pour me a nice cup of joe. It is horrible, it doesn't tell nor does it allow me sip on it. It stops me from drinking from it, its like the mug is trying to torture me.
love this mug! Goes perfect with the Morbius meal.
Had no idea my name had a definition!!
Bought for an inside joke. Perfect.
i love the schizophrenia mug its amazing
This cute mug reminded me of a quote from an obscure biography I found quite by accident in a tiny hole-in-the-wall 2nd hand shop in Portland, ME in 1987: 'The Life and Times of Lazarus of Bethany'. Quote: " We are all walking wounded held together by the scars of our forbearance and the charity of our sisters and brothers." Truer words have never been said.
Love it . Its me down to a T
unlike most mug customization, you can say whatever the fuck you want. Bravo!
i liked that the mug had my name on it and a funny definition, i will definitely buy some for my friends(with their names of course).
I bought it as sort of a gag gift for my son and his new girlfriend and they loved it
I haven't even bought it, it smells nice
nice quality, vivid image
What's funny is the saying that everyone searched for is the one that popped up on the cup. So all the weird gross sayings that people are commenting on are completely out of context to everyone seeing their comment.
I would buy a morbillion of these mugs.
Coffee is good with a banana (minus the Shimflins!)