Method and apparatus for establishing and administering a wealth transfer plan
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United States of America Patent
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-
N/A
Issued Date -
Jun 5, 2003
app pub date -
Jan 9, 2002
filing date -
Dec 3, 2001
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A system and method for the efficient transfer of wealth is disclosed. The system comprises a transferor having wealth and a transferee intended to be the recipient of transferred wealth. The transferee may be a trust. An insurance policy purchased by the transferee is subject to a split-dollar agreement by which the death benefit of the policy is assigned to a the transferor in exchange for payment of at least the death-benefit portion of the premiums. When sufficient premiums have been paid to effectuate the policy for the life of the insured, the split-dollar agreement may be canceled, reverting full ownership in the policy to the transferee.
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