incident of ownership

: any of several rights (as the right to change beneficiaries) that may be exercised over a life insurance policy which are used as criteria for the inclusion of the value of a policy in a decedent's gross estate for purposes of estate tax

Dictionary Entries Near incident of ownership

Cite this Entry

“Incident of ownership.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/incident%20of%20ownership. Accessed 20 Jun. 2024.

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