An elderly client has a life insurance policy worth $40,000 that upon her death pays $250,000 to

Question:

An elderly client has a life insurance policy worth $40,000 that upon her death pays $250,000 to her sole grandchild (or his estate). The client still retains ownership of the policy. Outline for her the costs and benefits of transferring ownership of the policy to a life insurance trust.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Question Posted: