ERD50
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
And I don't think a business should be forced to jump through these hoops. Heck, Congress can (and has) change(d) the estate tax limits and rates. So the insurance that was paid for is either not enough, or excess premiums were paid. And maybe the owner no longer can get life insurance.It's very common, especially before the estate tax exemptions were significantly increased, for closely held businesses regardless of form, to buy whole life aka permanent life insurance with a death benefit sufficient to pay the projected estate tax so they didn't have to sell the business. ...
A business should be allowed to concentrate on their business of providing value to their customers, not moveable, unpredictable tax games.
-ERD50