More than Just Lines on a Map: Best Practices for U.S Bike Routes
Spousal Life Ins Trust
1. Spousal Irrevocable Life Insurance Trust A More Flexible Document for Changing Times T HE F ELDMAN L AW F IRM , LLP -- H OUSTON , T EXAS
2.
3.
4.
5. GENERAL RULE- IRC §2513 A gift made by one spouse to a person other than his/her spouse may be considered as made one-half by each spouse but only if (a) each spouse is US citizen, (b) the couple remains married during entire calendar year, and (c) both spouses consent to gift splitting on 709 return. When to “Split”?
6. When to “SpILIT” a “SPOILIT? In addition to the traditional ILIT survivorship case, there is NO PROBLEM using split gift elections in a Spousal ILIT. Rev Rul 81-85 Only the individual who makes the gift is considered the donor for purposes of §2035.