Estate Planning 101 with the "Tax Chick" Amanda Doucette
beyond MD with Dr. Yatin Chadha
00:00
Life Insurance
If you buy an r or s p, we're usually buying it for terms. And if you try to take it out before the term happens, like, bad things happen, like you pay a tax. It's the same thing as, you can't tie em when you die. The only to avoid it is to give it to a spouse, ok? Perfect. In contrast, just in contrast, life insurance, that's going to pay out tax, for right in the next generation, or to the the beneficiaries. But those are a different pickle m and part of that can be taxable, again, depending on the nature of the insurance cy.
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