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I have a whole life insurance policy with a cash value of
I have a whole life insurance policy with a cash value of 372,000 - I have never withdrawn any funds from this policy - current dividends paid in this policy ( some were used to help pay premiums ) ov… read more
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I have a basic term life insurance policy, I have a group
I have a group basic term life insurance policy (a benefit no premiums) from the company that I retired from. I have consigned ownership of this policy to my daughter in law. Is this taxed as a gift? … read more
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I have a client who wants to put 1 million into life
I have a client who wants to put 1 million into life insurance buying a face value of 2 million. He is worth approximately 20 million. How is the 1 million he would deposit with a life insurance carri… read more
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My husband is an employee of s own company. He has a life
My husband is an employee of his own company. He has a life insurance policy within the Defined benefit plan so we get PS 58 cost every year. It is possible for the company to transfer ownership to my… read more
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Hi Brenda. After reading the Q&A regarding life insurance,
Hi Brenda. After reading the Q&A regarding life insurance, this is what I take away and want to know if it is correct. An LLC can pay the life insurance premium for its members who are each other's be… read more
Lev
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what is the best way to pass a property to three sons and keep
what is the best way to pass a property to three sons and keep the stepped-up value, so they will not pay tax on the gain in value should one decided to sell his share to his brothers?… read more
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Life Insurance to Fund a Buy Sell AgreementTaxation of Death
Life Insurance to Fund a Buy Sell Agreement Taxation of Death Benefit Cross Purchase Agreement Is there any need to create a 'trust' to own the life insurance and be the beneficiary? Only 2 Shareholde… read more
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My wife, and I have a "Revocable Trust". I understand that
My wife, and I have a "Revocable Trust". I understand that when both of us die, all our assets gets passed on to our beneficiaries. The beneficiaries are subject to "Estate Tax Exemptions (5 million) … read more
Lev
Lev
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My wife died back in 2008 and at the time I changed my residence
My wife died back in 2008 and at the time I changed my residence title to a revocable trust with myself as the trustee. I remarried in 2009 and both my new wife and I have filed both IRS and Californi… read more
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Situation: A married couple are getting divorced. They jointly
Situation: A married couple are getting divorced. They jointly own, as a revocable living trust, a whole life insurance policy covering the husbands life. As part of the divorce settlement the husband… read more
jgordosea
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I have heard of an estate management method where a person
I have heard of an estate management method where a person buys a Universal life insurance policy with a lot of cash (e.g. uses $9 million in cash to buy a $10 million policy) and uses the tax exempti… read more
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My husband died in May. Our company retirement plan (I own
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socrateaser
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I own a C corp & have a profit sharing plan. Can my profit
I own a C corp & have a profit sharing plan. Can my profit sharing plan pay premiums on my personal UL & second to die UL policies? If so, can my profit sharing plan pick up the premiums I currently p… read more
Bill
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Bill just gave me a partial answer to a question I had regarding
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I own, and my wife, a s corp. worth about 1 million, a ...
I own, and my wife, a s=corp. worth about 1 million, a house worth 2.5 million, income producing property, net worth over 4.5 million. How can we give to our kids, without them haveto sellinf?… read more
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I have a client with a defined benefit plan that holds life ...
I have a client with a defined benefit plan that holds life insurance. The cash surrender value is 34000. He bought the policy several years ago for 250,000. Question, can he personally buy the life i… read more
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My client has a defined benefit plan and inside the plan
My client is a schedule C filer and has a defined benefit plan which is deducted as an adjustment to AGI on his 1040. Part of the DB deduction relates to premiums that he pays for a life insurance pol… read more
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My children tell me that they will owe 42% on my 3.8 ...
My children tell me that they will owe 42% on my 3.8 million dollar estate I was told I would save this amount by putting the whole estate into a trust.What do you suggest I do?I don't want to devide … read more
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