Tax Facts

213 / Do premiums paid by one of several beneficiaries of an irrevocable life insurance trust constitute gifts to the other beneficiaries?

Updated: October 02, 2024 at 01:53 PM
Yes. Premiums paid in excess of the amount necessary to protect one beneficiary’s actuarially determined interest constitute gifts to the other beneficiaries.1





1.     Commissioner v. Berger, 201 F.2d 171 (2d Cir. 1953).

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