Part Of Build Back Better Could Be Disaster For Trust Owned Life Insurance
October 19, 2021 by Peter J. Reilly
A provision of the Build Back Better Act threatens to louse up a lot of life insurance plans. The problem is in the provision titled “Special Rule for For Grantor Trusts”. In many ways it is a sensible provision doing away with shenanigans that clever planners have concocted over many years largely to benefit the 1%, The rule could, however, have bad consequences for many well below the 1% who actually are not getting away with anything anybody finds objectionable. And I fear it could blindside them.
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