Incident of Ownership

0.01 sec.

Some aspect of the exclusive possession or control over the disposition or use of property that demonstrates that the person with such exclusive rights has not relinquished them.

A person who has kept the right to change the beneficiaries on his or her life insurance policy has retained an incident of ownership and is, therefore, considered the owner of the policy.

Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.

?Page tools

Printer friendly
Cite / link

Feedback
Add definition

Mentioned in	?		References in periodicals archive	?		Legal browser	?		Full browser	?
Condominiums and Cooperatives Estate and Gift Taxes Gross Estate ownership			Such policies may be in the deceased's estate for three years from the date the insured last had an incident of ownership. Avoiding insurance errors by Alexander, Neil / Journal of Accountancy 82-145,(29) the Service reversed this result, stating that because the corporation could borrow against the policy's CSV, it possessed an incident of ownership under Regs. Is split-dollar life insurance still a fringe benefit? by Swanson, Robert D. / The Tax Adviser 2042(2), the value of a decedent's gross estate includes the proceeds of life insurance on the decedent's life to the extent the decedent possessed an incident of ownership. Exclusion from estate for life insurance proceeds by Hudson, Boyd D. / The Tax Adviser			incendium incense incensurable incentive incentor incept inception inceptive inceptum Incerta pro nullius habentur Incerta quantitas vitiat acium incertitude incertus incessant incessere incest incestuous incestus Inch inch by inch inchoate inchoation inchoative incidence incident Incident of Ownership incident to incidental incidental beneficiary incidental mention incidental opinion incidental profits incidentals incidere incinerate incipere incipience incipiency incipient incipient organism Incipitur incircumspection incise incision incisive incisiveness incitamentum incitare incitation incitatus incite			Incident Investigation, Recording & Reporting Incident Learning and Prevention Incident light Incident Light Polarization Microscopy Incident Linked Multimedia Incident Management Activity Incident Management and Crisis Resolution Incident Management Assist Team Incident Management Center Incident Management Decision Support System Incident Management Intervention Model Incident Management Mission Diagnostic Incident Management Officer Incident Management Plan Incident Management Situation Report Incident Management System Incident Management System Training Incident Management Systems Division Incident Management Team Incident Management Unified Command Incident Management, Analysis and Reporting System Incident Management/Consequence Management Incident Meteorologist Incident Object Description and Exchange Format Incident of Ownership Incident photon Incident photon Incident photon Incident Photon to Current Efficiency Incident Photosynthetically Active Radiation incident point incident power Incident Prevention System Incident Process Management Incident proposition Incident Qualifications and Certification System Incident Record incident report incident report incident report incident report incident report incident report Incident Report Book Incident Report Form incident reporting incident reporting incident reporting incident reporting Incident Reporting and Investigation Centre Incident Reporting and Tracking System Incident Reporting and Trending System Incident Reporting Procedure Incident Reporting System Incident Reporting System for Research Reactors

Legal Dictionary

Free Tools:	For surfers: Free toolbar & extensions \| Word of the Day \| Help For webmasters: Free content \| Linking \| Lookup box \| Double-click lookup

Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.