The Apportionment Rules: Who Pays the Estate Tax on Life Insurance Proceeds?
This is an extremely important issue that is often overlooked or that falls between the cracks of an otherwise good … Read more
This is an extremely important issue that is often overlooked or that falls between the cracks of an otherwise good … Read more
An unlimited charitable deduction is allowed for the net amount of life insurance proceeds included in the insured’s estate if … Read more
An unlimited deduction is allowed for property includable in the gross estate that passes in a qualifying manner to the … Read more
At one time, Code section 2039(c) provided an unlimited exclusion for the amount distributed at a participant’s death from a … Read more
If, at the insured’s death, any incidents of ownership in a policy on his life were held by the insured, … Read more
Insurance Payable Directly to Estate Regardless of who purchased the policy, owned the incidents of ownership, or paid premiums, if … Read more
Code section 2035 is entitled “Adjustments for certain gifts made within three years of decedent’s death.” The statute states that … Read more
There are many situations in which one party purchases life insurance on the life of one or more other individuals. … Read more
Life insurance is a very broadly defined term for estate tax purposes. In its simplest definition, it is a contract … Read more
Any one of seven reasons can cause life insurance to be includable in a decedent’s gross estate. (Note that in … Read more