Legal Question in Wills and Trusts in Washington
Life Insurance Proceeds and Gross Estate
Are life insurance proceeds added in a decedent's estate in determining whether the estate is subject to estate tax (i.e., whether the estate is valued at over $650,000)?
Asked on 6/22/01, 4:32 pm
1 Answer from Attorneys
Bruce Busch
Bruce R. Busch, Attorney at Law
Re: Life Insurance Proceeds and Gross Estate
YES! But only if the OWNER of the policy is the decedent or if the beneficiary of the policy is the decedent or the decedent's estate. Such information is often misrepresented by life insurance agents.
Answered on 7/10/01, 9:53 pm
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