Death of a Loved One

The law will pass on the jointly held assets with right of survivorship on to the joint holder. The designated beneficiary of the insurance policies and […]

Typically, yes because it is considered income with regards to the decedent. The tax is due by the recipient because the deceased had not paid the […]

Typically not. Unless the recipient paid for the privilege to collect the life insurance policies, they are non-taxable income. For instance, if a policy was purchased […]

Of course. If the surviving spouse didn’t remarry before the end of the tax year, he/she may choose to file a joint return.