Two life insurance fraudsters who preyed on unhoused and addicted people in Maricopa County have been sentenced to prison, ...

When beneficiaries receive a payout from a life insurance policy, they typically don't have to pay taxes. However, there are ...

Two people have been sentenced to prison for running a fraudulent life insurance scheme that targeted vulnerable Arizonans, ...

The defendants used a fake life insurance company to convince vulnerable individuals to hand over their personal information, ...

Generally, no. As a general rule, death proceeds are excludable from the beneficiary’s gross income. 1 Death proceeds from single premium, periodic premium, or flexible premium policies are received ...

In a unanimous decision, the Supreme Court ruled for the IRS and against a taxpayer arguing that life insurance proceeds reduced the value of a family business for estate tax purposes. In the life ...

Succession planning for closely held business owners has always carried estate tax risks, but the Supreme Court's 2024 decision in Connelly v. United States has made those risks more costly (to the ...

Many closely held businesses have shareholder buy/sell redemption agreements. These agreements are critical to maintaining business continuity when a key shareholder exits the company. When the ...

The average funeral cost in 2021 was $7,848 for a wake and burial or $6,971 for cremation. The average cost of settling an estate varies, but a complicated estate could push $5,000 with ease. And none ...

Brothers Michael and Thomas Connelly were the sole shareholders of a corporation. Michael owned 77.18% of the stock and Thomas owned the remaining 22.82% of the stock. To provide for a smooth ...

<div class="Section1"><br /> <br /> Since a transfer of a policy subject to a nonrecourse loan discharges the transferor of obligations under the loan, the transferor ...