The annual payout from a charitable remainder annuity trust (CRAT) to a non-charitable beneficiary may not exceed what percentage of the initial fair market value of the property contributed to the trust?

Planning professionals should be prepared to analyze life insurance policy illustrations for clients.

Under ATRA, the estate, gift, and GST exemption is now:

When looking at the quality and composition of an insurer’s underlying assets, which of the following is NOT an important category?

A policy received in exchange for a MEC is also a MEC, regardless of whether the policy that is received would otherwise be classified as a MEC.

If a policy fails the seven-pay test as a result of the look-back rule, the distributions that are potentially taxable include:

A significant advantage of a split- dollar plan using survivorship life instead of a single-life policy is that:

If the insurer returns premiums paid in excess of the net level annual premium limit plus the interest on the excess premiums within a ___ day grace period of the end of the contract year in which the excess occurs, the contract will not fail the seven-pay test.

The aviation rider excludes payment of death benefits in the event of death as a result of an airplane crash when the insured is on a regularly scheduled commercial airline flight.

Secondary guarantee no-lapse policies will remain in force and the death benefits will remain level, even if the cash-value accounts fall to zero as long as the policyowners have paid the specified required premiums in a timely fashion.