Skip to content

Q: Should I Name My Estate As Beneficiary?

2011 July 29

This measure should only be considered in very unusual and specific situations. By naming your estate as beneficiary, you expose the proceeds of the policy to potential state inheritance and federal estate taxes. Additionally, creditors now have access to the funds since many states protect beneficiaries such as spouses, children, siblings, etc., but not an insured’s estate. Your state of residence and personal financial situation must be considered, but naming a specific individual or organization, as beneficiary will help assure they receive the policy benefits while limiting tax liabilities.

No comments yet

Leave a Reply

Note: You can use basic XHTML in your comments. Your email address will never be published.

Subscribe to this comment feed via RSS