Estate of Levine – Taxpayer wins on value of split-dollar arrangement
Abstract: The U.S. Tax Court recently rejected the IRS’s attempt to essentially triple the value of a split-dollar life insurance arrangement in a decedent’s taxable estate. This article summarizes this case and highlights the importance of careful drafting in estate plans. Estate of Levine, No. 13370-13 (Tax Ct. Feb. 28, 2022).