Copy table in the Split Dollar Agreement

Aug 6th, 2022
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How to copy table in the Split Dollar Agreement

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Hey, welcome back. Its time for another dueling Excel Podcast. Im Bill Jelen from MrExcel. Ill be joined by Mike Girvin from Excel Is Fun. This is our episode 152. Allocate without VBA. Todays question sent in from YouTube, Rich E. He has a contract amount here in column B and the number of months in the contract. Hes very specific. He says he wants just formulas. No VBA that will allocate that amount over the right number of months. So, 19,000 divided by 6, fills in six months and then is blank for the rest of the time. So, as I start to think about this, Im going to select this whole range over here and I want to figure out which month number Im in. So, equal COLUMN, open paren, close paren. Gives me the Column number. But its not really the month number. Its incremented by two. So, January is in column C. Column C is the third column. I need to check and see if this is less than or equal to the number of months. If it is, Im going to have a number there. So, less th

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Split-dollar life insurance is an agreement where two parties an employer and an employee agree to split the benefits, and sometimes the costs, of a life insurance policy. The employer pays the life insurance premium, in whole or in part, on a cash value life insurance policy purchased on the life of the employee.
ENDORSEMENT SPLIT DOLLAR: The employer owns the policy and endorses a portion of the death proceeds to the employees beneficiary. The employer is treated as giving economic benefits to the employee.
Economic benefit refers to how the IRS treats this type of split-dollar insurance agreement. It means your employer is giving you some benefit but not a loan. That means youll be taxed on the value of the life insurance provided, and that value is determined by the IRS or the insurance company.
A private split dollar arrangement is typically an agreement between an individual and an irrevocable life insurance trust, designed to provide estate tax protection while minimizing the value of gifts to fund the trust.
Endorsement Split-Dollar: Your Employer Owns the Policy Essentially, the death benefit is split between the employer and your beneficiaries based on previously agreed-upon percentages or amounts. In this arrangement: Your employer owns the life insurance policy and pays the premiums.
A collateral assignment of life insurance is a method of securing a loan by using a life insurance policy as collateral. If you pass away before the loan is repaid, the lender can collect the outstanding loan balance from the death benefit of your life insurance policy.
Private split dollar is a powerful planning technique that allows a client to pay annual premiums on a policy owned in an ILIT without having to make large gifts that would exceed the clients lifetime exemption and incur gift taxes.

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