https://www.taxtmi.com/caselaws?id=40217 Assigned life insurance policies may still be treated as property deemed to pass on death for estate duty where the assured retained effective control, including the ability to borrow on the policies and keep them alive. The assignment to the grandchildren and notice under insurance law did not prevent inclusion in the deceased's estate. The proceeds also could not be treated as a separate estate, because that category applies only where the deceased never had any interest in the property. As the deceased had a real interest in the policies before assignment, the amounts had to be aggregated with the general estate and were taxable against the assessee. en-us Mon, 20 Jul 1998 00:00:00 +0530 Thu, 03 Jul 2014 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40217 Assigned life insurance policies may still be treated as property deemed to pass on death for estate duty where the assured retained effective control, including the ability to borrow on the policies and keep them alive. The assignment to the grandchildren and notice under insurance law did not prevent inclusion in the deceased's estate. The proceeds also could not be treated as a separate estate, because that category applies only where the deceased never had any interest in the property. As the deceased had a real interest in the policies before assignment, the amounts had to be aggregated with the general estate and were taxable against the assessee. Case-Laws Income Tax Mon, 20 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40217