0

My estranged spouse was listed as a rider on my life insurance policy since 1987, we have been separated since 2009 and I have paid all premiums on the policy. My sons are the beneficiaries on the policy. The policy was for $54,000 and my estranged spouse's total assets when he died (not counting the policy) were less than $10,000.

Does the $54,000 need to be counted as part of his assets since I was the one that paid for the policy??

JoeTaxpayer
  • 172,694
  • 34
  • 299
  • 561
Linda
  • 1

1 Answers1

3

No. The key here is that you were the owner of the policy. It was not part of his estate, regardless of the estate size or his other insurance, beneficiaries, etc.

This assumes you are in the US. Please update tag with "US", when you return.

JoeTaxpayer
  • 172,694
  • 34
  • 299
  • 561