divorceinfo.com
Welcome, Guest. Please login or register.
Did you miss your activation email?
February 09, 2012, 07:04:28 AM

Login with username, password and session length
Search:     Advanced search
248518 Posts in 17641 Topics by 1600 Members
Latest Member: kemuwhat
* Home Help Search Login Register
+  divorceinfo.com
|-+  General Category
| |-+  All About Money (Moderator: m_t)
| | |-+  Another alimony tax question		 « previous next »
Pages: [1] Print
Author Topic: Another alimony tax question  (Read 1983 times)
Dallas
Hero Member
*****
Posts: 773
« on: August 29, 2006, 05:23:59 PM »
I have a question about the following statement for IRS pub 504:

"Life insurance premiums. Alimony includes premiums you must pay under your divorce or separation instrument for insurance on your life to the extent your spouse owns the policy."

Does "owns the policy" mean "is a beneficiary"?

Dallas
Logged
Lee Borden
Administrator
Hero Member
*****
Posts: 1202
« Reply #1 on: August 30, 2006, 12:01:27 PM »
No. The owner is the person who can change a policy and who is entitled to any cash value it builds. The beneficiary is the person entitled to receive the death benefit.
Logged
Helping people survive divorce
Lee's site: http://www.divorceinfo.com
Lee's blog: http://www.divorceinfo.com/blog
Dallas
Hero Member
*****
Posts: 773
« Reply #2 on: August 31, 2006, 12:30:30 PM »
Thanks for clearing that up.

Dallas
Logged
Pages: [1] Print 
« previous next »
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.15 | SMF © 2011, Simple Machines Valid XHTML 1.0! Valid CSS!