The husband is the owner of a life policy on his own life, his wife and 2 kids are named beneficiaries. Arizona is a community property state.
When he passes, he wants $250k for the wife, and the rest $250k go to his kids.
If the wife does not have a waiver of community right to the $250k going to the kids, does she have to pay gift tax on this amount?
TIA.
Source of insurance-forums.net
When he passes, he wants $250k for the wife, and the rest $250k go to his kids.
If the wife does not have a waiver of community right to the $250k going to the kids, does she have to pay gift tax on this amount?
TIA.
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