What Is a Joint Survivorhip
Or
Second To Die Life Insurance Policy ?
Is
a life insurance policy that covers the lives of two people instead
of one. However, proceeds are only
payable after the second insured person's death.
Joint
survivorship is generally designed to help us protect our estate from
inheritance taxes !
Is
It For Us ?
If we
have or anticipate having large estates, or
other personal reasons. (consult with your estate plan attorney)
What's
Our Benefit ?
The
cost is generally lower than insuring both lives indvidually
(dependeing on age differences) Policy
may still be available
even if one of the two is uninsurable.
Be
sure to discuss it with your estate
planning attorney
if you need such insurance and how much! Estate planning attornies
can help reduce expenses associated with probate court and lowering
estate taxes
by proper planning in advance!
IRS
Form 1041 U S Income Tax Return for Estates and Trusts
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