A client does not want her life insurance policy included in gross estate when she...
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Accounting
A client does not want her life insurance policy included in gross estate when she dies. She can remove the life insurance policy from her estate if she does which of the following more than 3 years before she dies?
A) borrow the cash value of the policy
B) make an absolute assignment of the policy to someone else
C) change the beneficiary to someone who does not have insurable interest
D) select a lump sum settlement option and name his estate the beneficiary
Briefly, outline the required process.
Please explain answer! Thanks!
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