Don’t procrastinate if you plan to transfer ownership of your life insurance policy
Posted October 5, 2020 / No comments
Generally, the proceeds of your life insurance policy are included in your taxable estate. You can remove them by transferring ownership of the policy, but there’s a catch: If you wait too long, your intentions may be defeated. Essentially, if ownership of the policy is transferred within three years of your death, the proceeds revert
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