My father-in-law has a second to die policy. For some type of tax reasons
bluemarlin08 wrote:My father-in-law has a second to die policy. For some type of tax reasons
Typically, second to die policies are used to provide liquidity to an estate to pay estate taxes, usually due at the "second to die". If he is getting divorced, and has an estate that will incur estate tax, that tax will be due at his death. Unless his divorced wife predeceases him, the policy proceeds won't be available until her death. Secondly, as mentioned, your brother may decide to stop paying his portion in the future, or what if he dies, who will pay his share? I would have to think long and hard about this.
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