A recent case demonstrates the impact that a stock-purchase agreement and life insurance can have (or not have) on the valuation of a closely held company for estate tax purposes. Before diving into ...

One of the most valuable features of life insurance is that the beneficiary receives the death benefit income-tax free.

Taking out a loan against your life insurance policy does not count as taxable income. Learn how a taxable event occurs if ...

In a unanimous decision, the Supreme Court ruled for the IRS and against a taxpayer arguing that life insurance proceeds reduced the value of a family business for estate tax purposes. In the life ...

The average funeral cost in 2021 was $7,848 for a wake and burial or $6,971 for cremation. The average cost of settling an estate varies, but a complicated estate could push $5,000 with ease. And none ...

Generally, no. As a general rule, death proceeds are excludable from the beneficiary’s gross income. 1 Death proceeds from single premium, periodic premium, or flexible premium policies are received ...

Succession planning for closely held business owners has always carried estate tax risks, but the Supreme Court's 2024 decision in Connelly v. United States has made those risks more costly (to the ...

Owning a life insurance policy can be an effective way to ensure that your loved ones are provided for if you die prematurely. You pay premiums on the policy, and if the policy is still in force at ...

<div class="Section1"><br /> <br /> With respect to the tax consequences to a corporation under an annuity or on living proceeds from endowment and life insurance ...

Life insurance can in some instances help clients lower estate taxes, particularly in cases where expiring provisions of the 2017 Tax Cuts and Jobs Act could lead to higher levies, according to ...