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Business, 19.12.2019 23:31 amh926292

Willie purchased a whole-life insurance policy on his brother, benny. under the policy, the insurance company will pay the named beneficiary $100,000 upon the death of the insured, benny. willie names tess the beneficiary, and upon benny’s death, tess receives the proceeds of the policy, $100,000. identify the transfer tax implications of this arrangement.

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Willie purchased a whole-life insurance policy on his brother, benny. under the policy, the insuranc...
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