Trustee Alert: New Tax Law Changes (Simplifies) Tax Reporting On Life Settlement Sales
Back in May we wrote about the need for trustees to be aware of life settlements. A life settlement can provide a TOLI trust with more value than a policy surrender. The role of a TOLI trustee dictates that all assets are maximized – including “unwanted” life insurance policies. In the past, tax reporting around a life settlement was onerous, primarily because of an IRS ruling enacted in [...]