What is the business strategy of Citadel Trust Company, a division of ?
Citadel Trust Company acquires existing Irrevocable Life Insurance Trusts from banks of all sizes. Citadel Trust Company actively seeks to increase its number of ILITs under management. With expertise in life insurance policy analysis, Citadel Trust, as the successor trustee, is responsible for all actions post transfer (that is, the liability, per its agreement with its grantors, upon transfer to Citadel). Banks that choose to exit the ILIT business retain only the liability for actions prior to the transfer of ILITs. Citadel has the ability to acquire and manage ILITs in all 50 states. Citadel handles the fiduciary liability and administrative management of the ILITs through its parent company, NITC.