Life insurance proceeds received by limited partnership not included in gross estate of insured limited partner

Asset Protection | Life insurance proceeds received by limited partnership not included in gross estate of insured limited partner
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In Private Letter Rulings 200947006 & 200948001, the IRS considered whether a series of transactions among a partnership, corporations and trusts which altered the ownership and beneficiary designations of two life insurance policies required inclusion of the policies in the insured’s estate.

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