Legal Question in Insurance Law in New Jersey

Death benefit from life insurance

My husband died and named his stepfather as the beneficiary; my husband left a note asking his stepfather to pay some bills and give the rest of the insurance benefit to me. Do I have to pay taxes on this money? How do I assure that I can claim the money tax free?


Asked on 8/28/07, 7:53 am

1 Answer from Attorneys
Henry Chan Wilson & Chan, LLP

Re: Death benefit from life insurance

First, it is likely that you do not need to pay taxes on your husband's life insurance benefits. That said, I strongly recommend that you hire an attorney as you will still need to file papers with the Court, file state/federal tax papers, etc. Our firm and attorneys are experienced and specialize in the areas of estates, probate, etc. Feel free to contact us for a free consultation.

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Answered on 8/28/07, 8:03 am


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