IRS rules on "incidents of ownership" in life insurance trusts

07/17/2013 | WealthManagement.com (U.S.)

The Internal Revenue Service held in a private letter ruling that until relinquished, a taxpayer's trustee and individual powers over life insurance trust assets were "incidents of ownership" under the Internal Revenue Code that would result in the policy proceeds being included in the taxpayer's gross estate. This article analyzes the agency's ruling.

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WealthManagement.com (U.S.)

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