Is There Federal Tax On Life Insurance?

1. 

   0 POINTS

   

   Contact David Racich Contact David Racich by filling out the form below

   
   Name
   

   
   Email
   

   
   Phone Number
   

   
   Message
   

   Please leave this field empty.
   

   Δ

   Contact Me

   view profile
   David RacichPRO

   Fountain Hills, Arizona

   There can be federal estate tax exposure on life insurance death benefit proceeds. To avoid federal estate tax exposure, many estate attorneys recommend using an irrevocable life insurance trust to own the life entrance policy, which in effect then is deemed as being out of the estate. Some estate planning strategies use other family members as the policy owner to accomplish removing the future death benefit proceeds outside the estate. Consult your estate planning attorney before moving forward with any ownership changes or assigning ownership to a life insurance policy.
     

   Answered on June 23, 2013

   +0

   1 0

   +1 this answer

   flag this answer

   view more answers by David Racich
Did you find these answers helpful?
Yes
No
Go!

Add Your Answer To This Question

You must be logged in to add your answer.