Life Insurance & Estate Planning?

Answer Life insurance is a key part of the estate planning process. When a person dies, probate fees to determine the legal validity of a will can become expensive. Life insurance can help to offset these... Read More »

Top Q&A For: Life Insurance & Estate Planning

Do you still need life insurance for estate purposes?

On One Hand: Life Insurance Is An Estate Planning ToolLife insurance is not "needed" for estate purposes. That is you will have an estate that contains your assets even if you don't have life insur... Read More »

Is life insurance money included in an estate in Michigan?

The federal government applies an estate tax regardless of state. Life insurance is an asset that is subject to estate tax computations unless protected using complex estate planning. States may h... Read More »

Are Life Insurance Proceeds Taxable in New York State Estate Tax?

In 2004, New York established the state exemption for estates at $1 million. This amount is much lower than the federal exemption for estates. However, the state of New York still requires the esta... Read More »

Is a life insurance policy considered part of a deceased person's estate?

A life insurance policy is considered a part of a deceased person's estate if the estate was named as the beneficiary. If an individual is the beneficiary, the benefits are payable to that person. ... Read More »