Take note, however, that the key to avoiding taxes on life insurance proceeds is to plan ahead, which starts with proper estate planning with life insurance. (termlife2go.com)
Without proper estate planning, life insurance can create more problems than it solves, in some instances. (bestliferates.org)
However, by proper estate planning, parents can protect a child who might be experiencing financial problems — even if the child files bankruptcy. (sc-bankruptcy-blog.com)