When Can A Life Insurance Trust Be Created? 
A life insurance trust -LRB- revocable or irrevocable -RRB- can be created through an attorney - the biggest advantages of a life insurance trust is that it can control how the proceeds are distributed and keeps the proceeds out of the insured 's estate , making it a great tool for estate planning purposes . In general , with life insurance policies and use of trusts , the trust will be the owner and beneficiary of the policy and the insured is the person who the trust is based around . 