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In general terms, the purpose of an ILIT is the following? a. Maximize the gift tax annual exclusion b. Reduce a person's gross taxable estate
In general terms, the purpose of an ILIT is the following? a. Maximize the gift tax annual exclusion b. Reduce a person's gross taxable estate by removing the life insurance death benefit. c. Maximize the marital deduction d. Transfer an unused exemption equivalent to the surviving spouse e. Eliminate the income taxation of an insurance death benefit
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