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Old 03-09-2013, 08:06 AM   #55
broncogary
Horse Player and Dimwit
 
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Join Date: Sep 2002
Location: Houston, TX
Posts: 5,843
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Quote:
Originally Posted by ColoradoDarin View Post
Yeah, it's so difficult to create an irrevocable life insurance trust to be set up as the "owner" of the policy and thus, not be subject to any estate tax (and yet, BH makes money on the added level of complexity) and no, not getting into gifts taxes or lump sum vs installments, but hey BH can make money off of making sure those are dealt with correctly too!

This is why I said "generally" and am just using common phraseology.

GENERALLY speaking, life insurance proceeds are not subject to taxes.
Hey, we agree that life insurance proceeds aren't taxable to the person who receives them. They are includible in the estate of the owner of the policy, so they may or may not result in estate tax.
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