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Fact Finder Split Dollar Design of Split Dollar Plan Contact Information Advisor Name: (First and Last) Economic Benefit Rates to Use Company: Alternative Term Rates Address: Table 2001 Rates Address

How to fill out fact finder split dollar

How to Fill Out Fact Finder Split Dollar:

1. Gather all necessary information: Start by collecting all required details such as personal information, financial data, and any existing insurance policies.
2. Determine the purpose: Understand the reason for using a fact finder split dollar. This can include estate planning, wealth transfer, or business succession purposes.
3. Identify the participants: Identify who will be involved in the arrangement. This may include the owner of the life insurance policy, the insured individual, and any other parties who will have an interest in the policy.
4. Provide personal information: Fill out the necessary personal details such as names, addresses, contact numbers, and social security numbers for all participants involved.
5. Financial information: Provide comprehensive financial information for all participants, including assets, liabilities, income sources, and expenses. This helps determine the appropriate split-dollar arrangement.
6. Specify the life insurance policy: Record all relevant information about the insurance policy, including the policy number, insurance company, type of policy, death benefit, and cash surrender value.
7. Determine the premium payments: Specify how the premium payments will be split between the parties involved. This may be an equal or unequal division depending on the agreement.
8. Document the ownership interest: Indicate the percentage of ownership interest for each party involved. This will determine the proportion of the death benefit and cash value each person is entitled to.
9. Specify the policy benefits: Outline how the benefits, such as the death benefit and cash value, will be allocated among the parties involved. This could include details like primary and contingent beneficiaries.
10. Sign and date the fact finder: Once all the necessary information has been provided and reviewed, make sure all parties involved sign and date the fact finder document.

Who Needs Fact Finder Split Dollar:

1. Individuals or families engaging in estate planning: A fact finder split dollar can be helpful for those looking to transfer wealth efficiently to the next generation while reducing estate taxes.
2. Business owners planning for succession: Business owners who want to secure the future ownership of their business or provide benefits to their successors can benefit from a fact finder split dollar.
3. Individuals looking for advanced life insurance planning: Those seeking customized life insurance solutions while utilizing split-dollar arrangements can leverage a fact finder split dollar.
4. High-net-worth individuals seeking asset protection: By structuring life insurance policies within a split-dollar arrangement, individuals can protect their assets and provide additional financial security to their beneficiaries.

Ultimately, the decision to utilize a fact finder split dollar should be made in consultation with financial advisors, estate planning experts, and insurance professionals to ensure it aligns with your specific goals and needs.

For pdfFiller’s FAQs

What is fact finder split dollar?

Fact finder split dollar is a method of sharing the costs and benefits of life insurance between an employer and an employee.

Who is required to file fact finder split dollar?

Employers who offer split dollar life insurance arrangements to their employees are required to file fact finder split dollar.

How to fill out fact finder split dollar?

Fact finder split dollar forms can be filled out by providing the required information about the employer, employee, insurance policy, and the terms of the split dollar arrangement.

What is the purpose of fact finder split dollar?

The purpose of fact finder split dollar is to document the terms of the split dollar arrangement and ensure compliance with tax regulations.

What information must be reported on fact finder split dollar?

Information such as the names of the employer and employee, details of the insurance policy, and the allocation of costs and benefits must be reported on fact finder split dollar.

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