Menu
Search

News & Events

HomeNewsBlogWhen Is a Trustee Not a Trustee? When the Trust Owns Insurance

When Is a Trustee Not a Trustee? When the Trust Owns Insurance

Journal of Passthrough Entities
Insurance is often touted to be one of those rare assets free of estate tax. Not exactly. It is not free of estate tax to any greater extent than cash or marketable securities. But insurance transferred to a third party, much like cash and marketable securities transferred to a third party, is free of estate tax. And insurance, because it has no value (in the case of a term policy) or minimal value (in the case of a whole life policy) at inception of a policy, is a seemingly easier asset to gift than cash or marketable securities because the transfer of insurance has minimal gift tax concerns.

Categories

Archives

Contact us

Get In Touch

  • Please do not submit any confidential information using this contact form. Current clients should contact their attorney directly.

  • This field is for validation purposes and should be left unchanged.

Please be advised that any response to this email does not create an attorney-client relationship and, therefore, no attorney-client privilege is attached by this communication. You should not send any confidential information to the firm until you have received a written agreement from the firm to perform legal services on your behalf. Unless you have received such a written agreement, we will not consider any correspondence you send us as confidential. Do you agree with these terms?
ACCEPT the terms or Cancel the email.

Please be advised that any response to this email does not create an attorney-client relationship and, therefore, no attorney-client privilege is attached by this communication. You should not send any confidential information to the firm until you have received a written agreement from the firm to perform legal services on your behalf. Unless you have received such a written agreement, we will not consider any correspondence you send us as confidential. Do you agree with these terms?
ACCEPT the terms or Cancel the email.

Call Now Button