Sentences with phrase «gift ownership of that policy»
Not exact matches
When you transfer ownership of a policy to any charity, the gift is irrevocable.
http://www.fraserlegacy.org/
After the policy is placed in force, you will wait a couple of months and then have her transfer ownership of the life insurance plan to you as a gift.
Life insurance is actually the only type of gift that is subject to a three - year look - back in an extension of that rule, which helps the IRS determine whether or not the ownership of a policy was changed solely because the person being insured believed they were going to die soon.
Transferring ownership of a paid up life insurance policy to your long time loyal employee upon retirement can be a huge gift to the family.