Marya P. Robben and Bob Cohen have published "Estate Planning with Life Insurance Policies: Reduce Potential Liability Claims While Improving a Client's Estate Plan" in the January/February edition of Probate & Property. According to Wills, Trusts & Estates Prof Blog,...
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The Private Wealth Services Group at McGuireWoods has published an article titled "Life Insurance Trusts in 2010," by Ronald D. Aucutt, W. Birch Douglass III, and Kristen Frances Hager. The authors warn of unknown and unintended consequences of using standard...
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In PLR 200952009, the IRS ruled that investments by a fund whose shares are offered to insurance company segregated assets accounts as an investment vehicle for variable life insurance policies and variable contracts, will not cause the variable contract holders...
PLR 200948001: IRS Comments on Treatment of Life Insurance Policies Owned by Partnerships and Trusts
In PLR 200948001, the IRS ruled that the proceeds of two whole life insurance policies received by a limited partnership on a taxpayer's death will not be included in the taxpayer's gross estate under sections 2042 and 2035(a) if the...
In an article captioned "Wall Street Pursues Profit in Bundles of Life Insurance," the NY Times discusses the market for life settlements.Posted by Lewis J. Saret, General Editor, Wealth Strategies Journal....
The Wall Street Journal, in an article captioned "Fusty Insurance Lures Buyers Seeking Safety: Whole-Life Polices Offer Steady Ride, but Figuring Actual Returns Can Be Tricky," notes that sales of whole life insurance policies are on the rise. While noting...
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In Alex Giannaris et ux. v. Commissioner, Judge David Laro, in a summary ruling that upheld an IRS deficiency determination, held that, when a policy was terminated because its personal interest was not deductible under section 163, a couple could...
Ernst & Young provides information about the insurance industry on its Global Insurance site. The inaugural study published on E&Y's site, Ernst & Young's inaugural Insurance Finance 2010 study (pdf, 611K) asked CFOs to take a forward-looking view of how...
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According to Bernard Condon & Daniel Fisher, Mutual Respect, publicly owned insurers used to scoff at their stodgy competitors, mutual insurers. Not anymore according to Mr. Condon and Mr. Fisher. Thanks to Gordon Kimpel, CLU, CFBS, CLTC, ChFC, of Capitol...
The IRS, in TD 9431, issued final regs re information reporting on employer-owned life insurance contracts under IRC Sec. 6039I. According to the IRS, this final regulation is necessary to provide taxpayers with guidance as to how the requirements of...