Here is your daily LawFact from Wise Law for Monday April 11, 2016. Today we are talking about Wills and Estates.
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.
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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