Here is your daily LawFact from Wise Law for Thursday July 7, 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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