When you die, the way in which your property is handled will
depend on the type of documents (or lack thereof) you’ve set up before your
death. The following is a summary of the ways your property transfers to heirs when you pass away.
Life Insurance. At death, life insurance proceeds are passed to your beneficiaries (and in most cases, tax free). For example, if you have a life insurance policy with a face amount of $500,000, when you die, your
beneficiaries receive the $500,000 face amount tax free.
When you purchase …Read More