Question by You T:
How much will the heirs get if the deceased had 10 million in life insurance?
after taxes, fees, expenses, etc.

and how do someone manage to get that much in life insurance, do they actually put that much in?


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Answer by Dave W
That will depend on various things, especially the ownership of the insurance policy. If the deceased owned the policy, the $ 10M will be subject to estate taxes. If the beneficiaries or a trust owned the policy, that avoids the estate taxes which can be as high as 45% for the US (plus probably more for state).

Read this for more information: http://estate.findlaw.com/estate-planning/estate-planning-taxes/estate-planning-taxes-reducing-life-insurance.html

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