Last time we looked at some of the base tenets surrounding life insurance and the austere outlook of the IRS when it comes to premiums, loans, and withdrawals.
More specifically, there are some significant traps that can snare you when utilizing life insurance. Here we’ll look at three and their potential solutions.
1See IRC § 101(j) for exceptions. See IRS Notice 2009-48 for details on what constitutes a “material change.”
As always, these issues require careful planning and consideration. Consult with your tax and financial planner for further assistance.
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