A “transfer for value” occurs upon any transfer for a valuable consideration of a right to receive all or part of the proceeds of a life insurance policy. As such, the transfer for value rule extends ...
Forbes contributors publish independent expert analyses and insights. Carrie Brandon Elliot analyzes international tax issues. Published May 8, new proposed regs (REG-124850-08) provide guidance on ...
For years, wealthy individuals gave or bequeathed money and property to their grandchildren without paying federal estate taxes. Unfortunately for those individuals, the generation-skipping transfer ...
In Private Letter Ruling 201921012 (May 24, 2019), the Internal Revenue Service concluded that a taxpayer’s election to opt out of the automatic allocation of generation-skipping transfer (GST) tax ...
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