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Life Insurance Planning Issues - . The New COLI Rules: IRC Sections 101(j) and 6039I.
- The general rule of 101(j)(1) and the exceptions of 101(j)(2)
- Notice and Consent Rules
- Reporting Requirements 20 Minutes
- . Ownership and Beneficiary Issues:
- Goodman Rule
- Minor Beneficiaries 10 Minutes
- . Section 1035 Exchanges:
- Basic Rules
- Loan Issues
- Loan Rescue Programs 20 Minutes
- MEC and FOG (Forced Out Gain) Rules of Section 7702:
- What is a MEC? What are the consequences?
- What are the FOG rules and how do they work? 25 Minutes
- Transfer For Value
- The Rules
- The Exceptions
- Messing up the Carry-over Basis exception 25 Minutes
- Basis Issues
- Phantom Gain on Lapse
- IRS position on Life Insurance Basis
- Basis of Insurance Company Stock (Demutualization) 20 Minutes
Jim Farrell, CFP®, CLU, ChFC, MS(Accounting) 120 Minutes
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