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What Issues Should I Consider When Doing A Section 1035 Exchange?

Updated 05/01/2024

A Section 1035 exchange may be a viable option for clients, but following the complex rules can be a challenge. That’s where you step in.

This checklist serves as a roadmap for navigating the complexities of Section 1035 exchange with clarity, and will give you confidence in assessing whether it is suitable for your clients’ specific needs.

This checklist covers important factors a client needs to be aware of when considering a Section 1035 exchange, such as:

  • What types of policies/products can properly be exchanged.
  • How one’s cost basis may affect their decision and the expected outcome.
  • How withdrawals and/or policy loans may affect the exchange.
  • Considering any grandfathered features/benefits, as well as surrender schedules, before making a decision.
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Will I Receive A Step-Up In Basis For This Gifted Property?
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Do I Need To Start Making Estimated Federal Income Tax Payments?
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