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.
- Why Would I Need a Secret Trust? - February 7, 2023
- Debunking Inheritance Planning Myths - January 26, 2023
- Tips for Alzheimer’s Caregivers - January 22, 2023