The Goodman Triangle
May 18th, 2011
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I regularly get asked about the “Insurance Triangle”, what it is and how it plays into things. This is a reference to the “Goodman Triangle” Goodman V. Commissioner, 156 F.2d 218
In this case Mrs. Goodman transferred five existing policies insuring her husband’s life to a Revocable life insurance trust. Beneficiaries of the trust were her three children and her sister-in-law. About a decade later her husband died and the trust became irrevocable.
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