Why is life insurance a good asset to give away? O Gifts of life insurance are more likely to be eligible for the annual exclusion than other gifts O It has a low value for gift tax purposes and a high value for estate tax purposes
Why is life insurance a good asset to give away? O Gifts of life insurance are more likely to be eligible for the annual exclusion than other gifts O It has a low value for gift tax purposes and a high value for estate tax purposes
Chapter27: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 16DQ
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Transcribed Image Text:Why is life insurance a good asset to give away?
O Gifts of life insurance are more likely to be eligible for the annual exclusion than other gifts
O It has a low value for gift tax purposes and a high value for estate tax purposes
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