Life Insurance and Estate Taxes
As discussed on the www.lifeinsure.com site, life insurance can be an economical way to pay estate taxes. There’s an interesting article written by an attorney entitled “How Life Insurance is valued for estate tax return”. It’s from the Scripps Howard News Service. From the article: “If the policy was not owned by the insured, none of the proceeds are included or taxable in the estate of the insured, unless the policy had been transferred by the owner within three years of his or her death, in which case, the total proceeds are included in his estate.”
To read the whole article click the Scripps Howard link above. To read more about how life insurance can ease the estate tax problem go to the survivorship life insurance page on the lifeinsure.com site.
