Notice 2001-10 will have dramatic effects on split-dollar arrangements

Article Abstract:

The authors discuss the IRS' notice 2001-10, which makes conventional split-dollar arrangements more appealing by reducing employees' taxable income. The impact on equity and reverse split-dollar arrangements are also examined.

Split-dollar life insurance, Split dollar life insurance

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Prop. regs. on the definition of trust income: the best thing for life insurance planning since sliced bread!

Article Abstract:

The authors discuss IRS changes to the definition of trust income under IRC section 643 and the importance these changes will have on the marketing of life insurance.

Taxation, Trusts and trustees, Trustees, Trusts (Law), Life insurance trusts

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Estate tax payment provisions in multiple documents

Article Abstract:

Estate planners should include in all wills and trusts their clients' wishes regarding the apportionment of estate taxes. Allocation provisions are particularly important in estate plans which consist of multiple documents. Although the 9th Circuit Court of Appeals in McKeon reached a reasonable allocation by interpretation of a will and two trust instruments, thorough drafting may have avoided the litigation. Estate planning documents which lack such provisions are open to litigation and such judicial determinations of intent.

Estate Planning, Interpretation and construction, Tax accounting, Accounting and auditing, Estate tax, Estate taxes, Wills

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