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.
Stephanie has been practicing in the Cobb County area since 2006. Her professional work focuses on family and probate law, and she serves as a Guardian ad Litem in both the Superior and Probate courts. Stephanie is very engaged in both the legal and the local community. Her volunteer work has been recognized at both the county and state level.
Latest posts by Stephanie Steele (see all)
- CRT: Best Tool for Proposed Tax Changes? - May 26, 2021
- Use It Before It’s Gone - May 19, 2021
- Tax Proposals Could Alter Estate Planning Landscape - May 12, 2021
