The Changing of a Life Insurance Policy Beneficiary from a Spouse

question 83

True/False

The changing of a life insurance policy beneficiary from a spouse to an adult daughter constitutes a gift for transfer tax purposes.

---

Definitions:

Psychophysiological Disorder

A physical illness or disorder that is caused or exacerbated by psychological factors such as stress, emotional state, or behavioral patterns.

Insanity Defense

A legal defense used by defendants claiming their mental illness at the time of the crime prevents them from being responsible for their actions.

Racial Bias

Prejudice or discrimination against individuals based on their race or ethnicity.

Sex Offender Laws

Legal statutes designed to regulate individuals convicted of sex crimes, including registration requirements and restrictions on living arrangements and employment.