newbyagent
Expert
- 37
I know many agents will use 1035's to effectively switch a client from one policy to another. I think most do this to avoid prohibitive tax consequences of changing policies. My question is;
Can life settlements be done inside 1035's? Meaning can a policy be sold and a new one purchased in a 1035 exchange? Or does it only work if the policy is surrendered or allowed to lapse?
If life settlements can be done in a 1035 exchange, what are the considerations of doing that? Any drawbacks or negatives?
Can life settlements be done inside 1035's? Meaning can a policy be sold and a new one purchased in a 1035 exchange? Or does it only work if the policy is surrendered or allowed to lapse?
If life settlements can be done in a 1035 exchange, what are the considerations of doing that? Any drawbacks or negatives?