Home > Insights > Blogs > Business Succession Solutions > "life-insurance"

Business Succession Solutions

Business Succession Solutions

(By accessing, browsing or using the pages below, you agree to the Blog Conditions of Use/Disclaimer available under "Links.")


Life insurance death benefit may be subject to income tax

Steve Gorin December 5, 2019
Man jumping from one cliff to another at sunset

If you transfer a life insurance policy in exchange for money or other property, the death benefit may become subject to income tax. This rule applies even to some nontaxable transfers. Furthermore, any policy issued to a business entity after August 17, 2006 may be subject to income tax if certain documentation was not on file when the policy was issued. READ MORE

Highlights from the 2017 Heckerling Institute on Estate Planning

Steve Gorin January 24, 2017
lightbulb grid

Each January, the University of Miami hosts the Heckerling Institute on Estate Planning, the country’s largest estate planning seminar. Here I provide links to the seminar summary reports sent to my newsletter subscribers, along with parts of my commentaries. READ MORE

How to avoid tax traps in life insurance

Steve Gorin January 10, 2017
insurance policy

Beware that an employer-owned life insurance contract might not qualify for the usual exclusion from regular income tax. That trap may also apply to buy-sell life insurance owned by the company, whether or not the person who is insured is an employee. READ MORE