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Survivorship Life Insurance

Posted on January 16, 2010.
Survivorship Life InsuranceWhat is the purpose of survival of life of all Insurance.Are responsible for the inheritance tax on estates.?

It was an end of political survival (800,000) for my grandmothers estate to cover taxes. The beneficiary was the executor (my aunt) of the estate took the insurance money than his and my mother said to divide the inheritance of 750,000. The insurance representative said it was to cover taxes. The accountant said he had been left as beneficiaries and my mother is responsible for 1 / 2 taxes.Can the real estate you tell me the specific guidelines for the IRS. Where else can you go to get this resolved. It was the property of the estate, but not much money. My mother can not afford to pay that money for her and all property taxes on the property each year. So I think my aunt is trying to strong arm his way. Thank you forany advice you may have. Colsond4

While the aunt can not "waive" the insurance policy back to the estate, is voluntary. (You know the $ 800K is also part of the estate, right?)

Your mother can not pursue it, but if it lasts too long, it will be passed, limit the time to withdraw and may cause other problems.

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