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2008-2009 Educational Webinar Series

Join us September 17 as we kick off the 2008-2009 Webinar Series with a Roundtable Discussion on Section 409A, moderated by Michael Goldstein, JD, LLM, and featuring Marla Aspinwall and Stuart Lewis, JD. Purchase the 08-09 Webinar Package today and be automatically registered for all five upcoming webinar. Click for details.

Increase Your Knowledge About Fiscal Responsibility

David Walker, former Comptroller General of the U.S., was a riveting keynote speaker at our last two annual meetings. His “Fiscal Wake-Up Tour” provided disturbing facts about America’s financial crisis and what we can do to help before it’s too late. Now you can share some of Walker’s resources with your clients and advisors. Click here for details, as well as how to become a supporter of the Peterson Foundation, where Walker is now CEO. Click here to watch Walker’s insightful presentation from our 2008 annual meeting.

Renew Your Membership Today

As a member of AALU, you have the tools to advance your business and become a more credible advisor for your clients. You also have AALU behind you, helping to protect your business from unfavorable tax legislation and regulation.

Register for Fall 2008 IMPACT

IMPACT, AALU’s landmark’s political training seminar, will be held September 22-23 in Washington DC. AALU members, along with industry partners, will discuss the political challenges that face the life insurance industry, and how important it is for every AALU member to be involved. Sign up today!

Visit the AALU STOLI Action Center and Get Involved!

Click here to view up-to date-information on 2008 State STOLI Legislative and Regulatory Activity

Go to the Newsroom: AALU's media relation page.

Membership in AALU is like an insurance policy. It provides protection against a host of threats to our products. We have a positive story to tell legislators, many of whom misunderstand what you do and the products you sell. Membership in AALU is a smart business decision.

Join AALU and you’ll benefit from associating with an elite group of sophisticated financial advisors. If your market is estate or business planning, executive compensation or other advanced uses of life insurance, AALU is your association.

AALU Bulletin No. 08-77

In our Bulletin No. 06-141, we reported that the Federal Court of Claims, in Fisher v. U.S., 97 AFTR 2d __ (2006-7807, Ct. Cl. Nov. 15, 2006), refused to grant summary judgment either to the taxpayer or the government on the issue of the taxation of the proceeds of sale of stock received by a trust as the result of the “demutualization” of a life insurance company. The Court held that the proceeds were not received under a plan of life insurance (and, thus, were not excludable from income to the extent of the taxpayer’s basis in the policy). In contrast, it refused to rule on the amount of the proceeds that were subject to tax. It remanded to trial the issue of whether the taxpayer had basis in the stock it received in the demutualization as the result of rights it there surrendered. The trial judge’s opinion, released on August 6, 2008, was predicated on the “open transaction” doctrine. See Fisher v. U.S., __ F.Supp. 2d __ (No. 1:04-cv-01726, Ct. Cl. Aug. 6, 2008). Under that doctrine, it was held that the amount received for the stock was less than the cost basis in the insurance policy as a whole and, therefore, no income was realized.

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