Thursday, July 07, 2016

LawFact of the Day: Wills and Estates

Here is your daily LawFact from Wise Law for Thursday July 7, 2016. Today we are talking about Wills and Estates.

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Life insurance policies that designate a beneficiary become that beneficiary's property on the day the insured dies.

They don't become part of the insured's estate and they aren't subject to estate tax

- Garry J. Wise, Toronto
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