A Bypass Trust Allows the Business Owner to Keep Life

question 69

True/False

A bypass trust allows the business owner to keep life insurance proceeds out of his/her estate as long as the owner doesn't die within three years of establishing the trust.

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Definitions:

Cancer

A broad group of diseases characterized by the uncontrolled division of abnormal cells in a part of the body, often leading to tumors.

Death Rates

The number of deaths in a given area or population during a specific period of time, typically expressed per thousand people per year.

Mortality Rate

The quantification of mortality within a specific group of people, adjusted for the group's size, over a given time frame.

Poverty

A socio-economic condition characterized by a lack of financial resources or essentials for a minimum standard of living.