• Rulings regarding “incidents of ownership” of life insurance under Internal Revenue Code Section 2042—Two recent rulings analyzed whether a decedent had incidents of ownership over life insurance policies, which would cause inclusion of the policy death proceeds in his estate for estate tax purposes. In the first, Private Letter Ruling 201327010 (July 5, 2013), the taxpayer’s spouse owned a policy on the taxpayer’s life, and when the spouse died, ...

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