A split-dollar arrangement is a strategy in which a life insurance policy's premium, cash
values, and/or death benefits are split between two parties (owner and non-owner). It
is not a type of life insurance or a reason for buying life insurance; rather, it is a method
of financing the purchase of life insurance. Split-dollar is generally most appropriate
when one party (the company) has the cash to pay the premiums for life insurance
and the other party (the employee) has the need for life insurance. Depending upon
the method of split dollar used, the policy owner may be the employer, the insured/
employee, and the insured's trust or a third party.
With the collateral assignment split-dollar arrangement, the employee or the
employee's trust is designated the owner of the policy. The employee's spouse, other
family member, or the trust is named beneficiary of the policy. The employer's premium
payments are secured by a collateral assignment on the policy. As in the endorsement
method, the rights and duties of the two parties are spelled out in a split-dollar agreement.
Typically, collateral assignment arrangements are used for two reasons:
1. First, it is generally easier to keep the death benefit out of the estate of a controlling shareholder.
2. Second, the collateral assignment method makes it somewhat easier for the employee to take over the policy unencumbered.
Since the employee owns the policy from the outset, it is not necessary to transfer ownership from the corporation to the employee, though the collateral assignment would be released when the split dollar is terminated and taxation would result.
Oklahoma City Oklahoma Split-Dollar Agreement - Non-Equity Collateral Assignment Arrangement - Economic Benefit Approach-Minority Owner orSplit-Dollar Agreement -- Non-Equity Collateral Assignment Arrangement - Economic Benefit Approach - Minority Owner or Key Executive Owned
Category:
State:
Multi-State
City:
Oklahoma City
Control #:
US-0900BG
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Oklahoma City has many unique districts that define the city's culture and embody the Modern Frontier moniker. The National Stockyards is the world's largest feeder and stocker cattle market located in Stockyard City. OKC Facts & Numbers visitokc.com ? media ? okc-facts-numbers visitokc.com ? media ? okc-facts-numbers
Zip Code List County - Oklahoma County, Oklahoma Zip CodeCityCounty 73107 Oklahoma City Oklahoma County 73108 Oklahoma City Oklahoma County 73109 Oklahoma City Oklahoma County 73110 Midwest City Oklahoma County48 more rows Zip Code List County ciclt.net ? clt ? capitolimpact ? gw_ziplist ciclt.net ? clt ? capitolimpact ? gw_ziplist
Mother Nature has provided plenty of awe-inspiring locales all over Oklahoma and with 12 distinct eco-regions the variety of stunning scenery is incredible. #1 - Wichita Mountains Wildlife Refuge. ... #2 - Quartz Mountain State Park. ... #3 - Chickasaw National Recreation Area. ... #4 - Beavers Bend State Park.
8 Things Oklahoma is Known and Famous For Native American Heritage. Red Earth Festival. Chicken Fried Steak. Route 66. Tornadoes. Wind Energy. Oil and Gas Industry. Museums.
1. Oklahoma City National Memorial & Museum.
Oklahoma City has many unique districts that define the city's culture and embody the Modern Frontier moniker. The National Stockyards is the world's largest feeder and stocker cattle market located in Stockyard City.
Oklahoma City has many unique districts that define the city's culture and embody the Modern Frontier moniker. The National Stockyards is the world's largest feeder and stocker cattle market located in Stockyard City.
Explore what makes these industries thrive in Oklahoma. Oklahoma is 1st in rye production, 2nd in canola production, 5th in beef production and is home to a vast array of companies ranging from paper and packaging manufacturing to beverage production and fertilizer manufacturing.
Originally Answered: What's worth seeing and experiencing while visiting Oklahoma City? The Bombing Memorial but on a lighter side, Bricktown and the Riversports area is awesome and if you like Western the National Western Heritage Musuem. Lots of fun things to do here.
