Sentences with phrase «thus subject to estate taxes»

The great thing about life insurance is that the death benefit is paid out income tax free and not necessarily tax free altogether as life insurance proceeds are typically included into the gross estate of the decedent (the deceased) and are thus subject to estate taxes (sometimes called «death taxes»).

Not exact matches

Any arrangement with a financial services provider that involves freewheeling speculation on the market will be classified by the IRS as an investment account, not an insurance policy: Thus, it will be subject to capital gains and estate taxes.

Thus, the benefits may be subject to the overall estate taxes that occur at the federal and state level.

The assets in a revocable trust are included in the grantor's estate, and thus can be subject to estate taxes.