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On July 23, 2011 Max Fung?s wife, Frieda, died....




On July 23, 2011 Max Fung?s wife, Frieda, died. Debyr Life Insurance Company Frieda?s life was insured by a $100,000 life insurance policy issued by Debyr Life Insurance Company. Max has an option to receive either $100,000 now or $2,400 each month for 100 months (8 and 1/3 years). It is estimated that the payments would begin November 1, 2011. Premiums paid related to this policy totaled $60,000. Please look at the Internal Revenue Codes provided in the attachment to help me answer this question. I need this done by 11/6/11. Thank you.,MAX HAS ASKED YOU TO HELP HIM CONSIDER THE AFTER TAX CONSEQUENCES OF HIS OPTIONS REGARDING THE TWO INSURANCE POLICIES. YOU SHOULD PREPARE THE FOLLOWING: 1. A TECHNICAL MEMORANDUM DESCRIBING THE 2011 TAX CONSEQUENCES OF THE TWO OPTIONS AVAILABLE RELATED TO THE DEBYR LIFE INSURANCE COMPANY POLICY. ?


Paper#3597 | Written in 18-Jul-2015

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