Omnibus Budget Reconciliation Act Of 1987: Implications For Estate Planning
Legislation that provides for the inclusion in the estate of the decedent of lifetime transfers that involve a retained life interest in the following manner:
- decedent sells or gives to a family member a remainder interest in a business.
- decedent transfers more than 50% of appreciation interest into a general partnership but retains the limited partnership interest.
- decedent sells or gives to a family member more than 50% of common stock interest in a corporation but retains the preferred stockinterest in the corporation.
Popular Insurance Terms
Process whereby a ceding company resumes the insuring of a portfolio of insurance policies which it had previously CEDED to a REINSURER. ...
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Money the policyowner is entitled to receive from the insurance company upon surrendering a life insurance policy with cash value. The sum is the cash value stated in the money the ...
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Probability of loss upon which a basic premium rate is calculated. ...
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