Is Life Insurance Taxable To The Estate?
- 61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaLife insurance proceeds generally pass to the beneficiaries of the policy tax free. However, the proceeds still may be subject to federal and estate taxation depending on the total assets as they relate to the federal unified credit and the state of domicile exemption. Before purchasing and assigning policy ownership, check with an estate attorney for guidance.Answered on August 7, 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.