For Business Owners

The Internal Revenue Service has just issued a number for a private letter ruling that I obtained for a client. In PLR 200747002, the Service for the first time approved a premium-splitting mechanism to fund the purchase of life insurance. The technique helps owners of closely held businesses buy the interest of an owner who dies. For details, see my article in the September 2007 issue of Trusts &

The Internal Revenue Service has just issued a number for a private letter ruling that I obtained for a client. In PLR 200747002, the Service for the first time approved a premium-splitting mechanism to fund the purchase of life insurance. The technique helps owners of closely held businesses buy the interest of an owner who dies. For details, see my article in the September 2007 issue of Trusts & Estates, “Insurance LLC Helps Business Owners,” at pp. 35-38.

All access premium subscription

Your subscription will include 12 months of Trusts & Estates magazine and access to premium content on WealthManagement.com.

TAGS: Archive
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish