M
Milena
Guest
What is the name of your state?I live in Florida, but this is more of a general question.
Is it true that life insurance proceeds are tax free (regardless of the amount of the proceeds)?
If so, I'm a bit confused about a document I read some time ago...
It outlined the different stratergies one can apply to remove a life insurance policy from their estate in order to avoid high estate taxes...
If the proceeds are, in fact, tax free to whichever beneficiaries the insured names in his policy, how can it have tax consequences under the estate?
Does anybody know???
Thanx in advance.
Is it true that life insurance proceeds are tax free (regardless of the amount of the proceeds)?
If so, I'm a bit confused about a document I read some time ago...
It outlined the different stratergies one can apply to remove a life insurance policy from their estate in order to avoid high estate taxes...
If the proceeds are, in fact, tax free to whichever beneficiaries the insured names in his policy, how can it have tax consequences under the estate?
Does anybody know???
Thanx in advance.