- Outright transfers, transfers in trust, and indirect gifts
- The uses and issues relating to Crummey powers
- The gift tax marital deduction
Following this, the authors explain the gift tax in further detail, including cases when a gift occurs with respect to a life insurance policy, the valuation of the gift, and the availability of the gift tax annual exclusion and the gift tax charitable or marital deduction. Subsequent chapters address other relevant topics, including:
- Estate taxation of life insurance, with emphasis on the two IRC sections that have particular application to life insurance: sections 2035 and 2042
- Generation-skipping transfer tax and its application to life insurance and irrevocable life insurance trusts
- Community property considerations