New vistas for survivorship split dollar

IRS Private Letter Ruling 9745019 concluded that the death proceeds from a survivorship policy split-dollared between the insureds and their irrevocable life insurance trust would not be included in either insured's estate. This ruling is encouraging news for the continued sales opportunities s...

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Bibliographic Details
Published in:National underwriter (Life, health/financial services ed.) health/financial services ed.), 1998-02, Vol.102 (5), p.10
Main Authors: Jenei, Jeffrey J, Sardis, Anthony M
Format: Magazinearticle
Language:English
Subjects:
Agreements
Costs
Estate planning
Estate taxes
Gift taxes
Irrevocable trusts
Letter rulings
Life insurance trusts
Ltr. Rul. 9745019
Split dollar arrangements
Online Access:Get full text
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Summary:IRS Private Letter Ruling 9745019 concluded that the death proceeds from a survivorship policy split-dollared between the insureds and their irrevocable life insurance trust would not be included in either insured's estate. This ruling is encouraging news for the continued sales opportunities split dollar can generate. The ruling did not address the potential income tax consequences of the advances made by the taxpayers under the split-dollar arrangement.
ISSN:1940-1345