30After reviewing her financial affairs, Jasmine has determined that she would like the $75,000 death benefit from one of her insurance policies to go to a local registered charity. The whole lifepolicy in question has a $45,000 cash surrender value (CSV) and she pays an annual premium of $500. Jasmine's current cash flow situation is quite good. She is living a comfortable retirement.However, she is worried as she has assets, that of the taxes that will be payable after her death will result in considerable capital gains.She is unable to purchase a new life insurance to cover the income tax triggered at death because of her health.What should Jasmine do to fulfill her desire to donate $75,000 to the registered charity and alleviate the taxes payable following her death?NVBDQncreUJQWW1 Ya0w4cWZjYVhIQT09 →a. O Surrender the life insurance policy and donate the CSV.b. OName the registered charity as beneficiary of the life insurance policy.c. OAssign the life insurance policy to the charity, making it the owner.d. OName her estate as beneficiary of her life insurance policy.2003-20

An individual and an insurance company enter into an agreement when purchasing a life insurance…

What should Jasmine do to fulfill her desire to donate $75,000 to the registered charity and alleviate the taxes payable following her death? NVBDQncreUJQWW1 Ya0w4cWZJYVhIQT09 Ⓒ a.O Surrender the life insurance policy and donate the CSV. b. O Name the registered charity as beneficiary of the life insurance policy. CO Assign the life insurance policy to the charity, making it the owner. d. O Name her estate as beneficiary of her life insurance policy.

What should Jasmine do to fulfill her desire to donate $75,000 to the registered charity and alleviate the taxes payable following her death? NVBDQncreUJQWW1 Ya0w4cWZJYVhIQT09 Ⓒ a.O Surrender the life insurance policy and donate the CSV. b. O Name the registered charity as beneficiary of the life insurance policy. CO Assign the life insurance policy to the charity, making it the owner. d. O Name her estate as beneficiary of her life insurance policy.

Administration Of Wills/Trusts/ And Estates

5th Edition

ISBN:9781285281308

Author:Brown

Publisher:Brown

Chapter2: Estate Planning

Section: Chapter Questions

Problem 1CTD

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