If a Grantor Transfers a Life Insurance Policy to an Irrevocable

question 92

True/False

If a grantor transfers a life insurance policy to an irrevocable trust within three years before the grantor's death,the policy will not be included in the estate.

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Definitions:

Structural-Functionalism

From a sociological standpoint, this perspective considers society as a sophisticated entity where its elements are interconnected, working collectively to ensure cohesion and balance.

Functional Explanation

An explanation based on the role or function that a particular event, behavior, or phenomenon serves within a larger system.

Social Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Teleology

Teleology is the philosophical study of design and purpose in nature, suggesting that all things have inherent goals or ends towards which they strive.