Parenting

Can Grandparents Take Out Life Insurance On Grandchildren?
What You Should Know About Children’s Life Insurance
Transfer Tax Implications of Life Insurance and GSTT
  • Transfer Tax Implications of Life Insurance and GSTT
  • Date posted: June 6, 2017 3:03 PM
  • To help look after future generations, many people elect to transfer property and life insurance policies by gift or at death to a person two more generations below himself or herself. Typically, this means grandchildren and great-grandchildren, also referred to as skip-persons. The goal is to have assets pass from grandparent to skip-persons without being taxed in the child’s estate. Typically, the transferor places assets in trust to children for life, then to grandchildren. Or, the transferor gives property to grandchildren or places it in trust for their benefit. Full Story »
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