Fred and Angela were business partners. Each was a policy owner and beneficiary with the other as
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Question:
Fred and Angela were business partners. Each was a policy owner and beneficiary with the other as the life insured on policies to fund a buy-sell agreement. If Fred dies, who would pay the tax on the death benefit from the policy on his life?
Select one:
a. The partnership
b. No one
c. The estate and Angela would share equally
d. Fred’s estate
Related Book For
Business Law Principles for Today's Commercial Environment
ISBN: 978-1305575158
5th edition
Authors: David P. Twomey, Marianne M. Jennings, Stephanie M Greene
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