Is Life Insurance Part Of The Estate After Death?
- 63333 POINTSview profilePeggy MaceMost of the U.S.Yes, the person who owned the policy and left life insurance will have the proceeds of the life insurance counted as part of the estate upon death. If the amount of the total estate is low enough (this year, under $5,250,000), estate taxes should not have to be paid. If you have a large estate, you can possibly transfer ownership of your policy to an Irrevocable Life Insurance Trust. Talk to a tax attorney and your life insurance agent to discuss whether this is a good idea for you.Answered on August 13, 2013flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.