Manage episode 212929523 series 2082338
Larry Brody, Esq., Partner, Bryan Cave LLC, and Randy Zipse discuss the Cahill case on Multi-Generational Split Dollar. Since Morrissette in 2016, few concepts have caught the attention of high-end insurance producers like “multi-generational” or “discount” split dollar.
Split dollar can be a powerful means of funding permanent life insurance for family business and estate planning. “Multi-generational” split dollar can be an effective way to use family wealth for long-term planning. While promoters have marketed multi-generational split dollar to pass along family wealth on a deeply discounted basis, others wonder if the purported benefits are too good to be true. The Cahill case, in large part, provides us with the IRS opinion on that question!
Cahill is significant for those considering this concept. Larry and Randy discuss what the court said and what it did not. If you work with estate planning clients, you will not want to miss this podcast.