Common use of Gift Tax Clause in Contracts

Gift Tax. Transfer of your Xxxx XXX assets to a named Beneficiary or Beneficiaries made during your life and at your request, may be subject to federal gift tax under section 2501 of the Internal Revenue Code. However, the naming of a Beneficiary or Beneficiaries generally will not subject you to gift tax liability.

Gift Tax. Transfer of your Xxxx XXX assets to a named Beneficiary or Beneficiaries made during your life and at your request, request may be subject to federal gift tax under section 2501 of the Internal Revenue Code. However, the naming of a Beneficiary or Beneficiaries generally will not subject you to gift tax liability.