Life insurance is included in the taxable estate typically. A trust is a great way to remove the value of life insurance from the taxable estate. But there are two potential traps in this. The prior article examined the first trap, the three-year lookback of Section 2035. This article will examine how the Transfer for Value rule can make life insurance taxable. Read on to learn more about how to avoid the income taxation of life insurance.
Stephen is a member of the American Academy of Estate Planning Attorneys (AAEPA), a national organization serving the needs of legal professionals concentrating on estate planning. He was on the national Board of Governors for the AAEPA and is the only AAEPA member in Vermont Read More!
Latest posts by Stephen Hartnett (see all)
- What Taylor Swift Can Teach Us About Estate Planning - April 23, 2024
- What You Need to Know about the Corporate Transparency Act - March 19, 2024
- Thereâs No Better Way to Say âIâll Be There for Youâ than with an Estate Plan - February 13, 2024
