Common use of Gift Tax Clause in Contracts

Gift Tax. Transfers of Xxxxxxxxx ESA assets to a death designated beneficiary made during the designated beneficiary’s life and at his or her request or because of the designated beneficiary’s failure to instruct otherwise, may be subject to federal gift tax under IRC Sec. 2501.

Gift Tax. Transfers of Xxxxxxxxx ESA assets to a death death-designated beneficiary made during the designated beneficiaryDesignated Beneficiary’s life and at his or her request or because of the designated beneficiaryDesignated Beneficiary’s failure to instruct otherwise, otherwise may be subject to federal gift tax under IRC Sec. 2501.