Message Font: Serif | Sans-Serif
No. of Recommendations: 0
A term life insurance policy's owner is not the same as the insured would keep the policy proceed out of the insured'estate at time of death. But can the policy owner be the insured's spouse?

If yes, can the spousal owner pay the life ins. policy premium by funding a joint checking account with the insured? Sorry if my question is out of place. Please direct me to the appropriate board.
I do not see any reason you cannot.

I do not see that you are accomplishing much in the way of estate tax savings in that the law allows for unlimited transfers from spouse to spouse . IOW even if you owned the policiy yourself and at your death had an estate valued at say 15 million then if your wife was the sole beneficiary there would be no death taxes.

It's the second death that you need to pay attention to!

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.