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LIFE INSURANCE AS AN ASSET PROTECTION

Posted in Life Insurance Questions about 1 year ago, 0 replies

SWITCHING POLICY OWNERS - IF I SWITCH MY CURRENT FULL LIFE CASH VALUE POLICY TO MY SON AND HE PAYS ALL PREMIUMS AND IS NAMED AS BENIFICIARY AND NEW OWNER WILL THE PROCEEDS UPON MY DEATH BE TAXABLE TO HIM. THIS IS BEING DONE TO PROTECT ASSETS FROM POSSIBLE FUTURE NURSING HOME ASSET COUNTING.
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submitted by GENE C in NEW YORK STATE

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