Chapter 12 Planning Opportunities With Life Insurance
Index
- Section 12.1 Introduction
- Section 12.2 “Life Insurance” as Defined for Tax Purposes
- Section 12.3 Types of Policies
- Section 12.4 Term Life Insurance Policies
- Section 12.5 Whole Life or “Permanent” Insurance Policies
- Section 12.6 Variable Life Insurance Policies
- Section 12.7 Universal Life Insurance Policies
- Section 12.8 Variable Universal Life Insurance Policies
- Section 12.9 Adjustable Life Insurance Policies
- Section 12.10 Survivorship Policies
- Section 12.11 First-to-Die Life Insurance Policies
- Section 12.12 Significant Options and Features With Respect to Life Insurance Policies
- Section 12.13 Typical “Riders”
- Section 12.14 Dividend Options
- Section 12.15 Policy Loans
- Section 12.16 Income Taxation Concepts
- Section 12.17 “Tax-Free” Build Up of Value Inside Policy
- Section 12.18 Dividends on Life Insurance Policies
- Section 12.19 Cash Withdrawals From Policies
- Section 12.20 Taxation Upon Surrender of Policy
- Section 12.21 Exclusion of Death Benefit Proceeds
- Section 12.22 Transfer for Value Rule
- Section 12.23 Deductibility of Life Insurance Premiums
- Section 12.24 Deductibility of Policy Loan Interest
- Section 12.25 Taxation Upon Sale of Life Insurance Policy
- Section 12.26 Alimony and Maintenance Issues
- Section 12.27 I.R.C. § 1035—Tax-Free Exchanges of Life Insurance Policies
- Section 12.28 Estate and Gift Taxation Issues
- Section 12.29 Gifts of Life Insurance Policies and Proceeds
- Section 12.30 Annual Gift Tax Exclusion
- Section 12.31 Gifts of Proceeds
- Section 12.32 Valuation Problems
- Section 12.33 Estate Taxation Issues
- Section 12.34 Inclusion in Estate Because of “Incidents” of Ownership
- Section 12.35 Inclusion Because of Transfer Within Three Years of Death and Techniques for Avoiding Inclusion
- Section 12.36 Inclusion of Policy in Estate Other Than That of Insured
- Section 12.37 Estate Tax Marital Deduction
- Section 12.38 Split-Dollar Arrangement With Employer
- Section 12.39 Split-Dollar Arrangement With Spouse
- Section 12.40 Generation-Skipping Problems
- Section 12.41 Economic Growth and Tax Relief Reconciliation Act of 2001
- Section 12.42 Personal Life Insurance Trusts
- Section 12.43 Revocable Trusts
- Section 12.44 Irrevocable Life Insurance Trusts
- Section 12.45 Generation-Skipping Planning
- Section 12.46 Selecting a Trustee
- Section 12.47 Employee Benefits
- Section 12.48 Group Term Life Insurance
- Section 12.49 Qualified Plan Insurance
- Section 12.50 Nonqualified Executive Compensation Plans
- Section 12.51 Business Life Insurance (“Key Person Insurance”) and Cross-Purchase Agreements
- Section 12.52 Nondeductibility of Premiums
- Section 12.53 Exclusion From Income of Death Proceeds
- Section 12.54 Alternative Minimum Tax and Earnings and Profits Problems Caused by Receipt of Death Proceeds
- Section 12.55 Buy/Sell Agreements—Formats
- Section 12.56 Typical Flaws of Buy/Sell Agreements
- Section 12.57 Insurance Proceeds as Compensation
- Section 12.58 S Corporations
- Section 12.59 Charitable Giving With Life Insurance
- Section 12.60 Tax Deduction, Valuations of Gifts, and Tax Effects
- Section 12.61 Tax Effects on Charities
- Section 12.62 Achieving Income Tax Benefits for Heirs
- Section 12.63 More on Split-Dollar Life Insurance Plans
- Section 12.64 I.R.S. Notice 2002-8
- Section 12.65 Final Regulations
- Section 12.66 Endorsement Plans (“Economic Benefit Regime”)
- Section 12.67 Collateral Assignment Plans (“Loan Regime”)
- Section 12.68 Purchasing Life Insurance on Younger Generation Family Members
- Section 12.69 Use of Decanting Trusts
- Section 12.70 Joint Irrevocable Life Insurance Trust Agreement
- Section 12.71 Letter to Clients