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- Obtaining a Taxpayer Identification Number (TIN)
- Acquisition of Life Insurance by an ILIT
- Retention of Original Insurance Contracts by ILIT Trustee
- Calendar Premium Notices for a Period of Years
- Establish Checking Account for the ILIT
- Remind Grantor When and How much to Gift
- Confirm Funds Available and Date of Gift
- Notify Beneficiaries of Withdrawal Rights
- Record and Store Notice Response or Lack thereof
- Pay Insurance Policy Premium
- Periodically Update Contact Information for All Parties
- Review Insurance Policies Performance and Stress Test the Policies Longevity Relative to the Objectives of the Trust
