California Code of Regulations
Title 18 - Public Revenues
Division 2.5 - State Controller
Chapter 2 - Gift Tax
Article 5 - Valuation
Section 15558.2 - Assignment, or Designation of Beneficiary, of Life Insurance Contract
Universal Citation: 18 CA Code of Regs 15558.2
Current through Register 2024 Notice Reg. No. 12, March 22, 2024
If an individual makes an irrevocable and gratuitous assignment, or designation of a beneficiary, of a fully or partially paid-up life insurance policy issued on his life, the value of the gift is the cost of replacing or reproducing the policy at the date of the gift.
NOTE: Reference: Section 15558, Revenue and Taxation Code.
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