The Internal Revenue Service upholds the asset division-dollar agreement—In Marion Levine’s estate (158 TC No. 2, February 28, 2022), the Tax Court analyzed a split-dollar arrangement set up by the taxpayer. Marion Levine was a successful business woman who independently ran a family business (Penny’s Supermarket) and other assorted companies engaged in real estate investment and lending, mobile home parks and Renaissance fairs. He had two children, Nancy and Robert.
