Menu
Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New profile posts
Latest activity
Media
New media
New comments
Search media
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Forums
Non-Cattle Specific Topics
Every Thing Else Board
That's a different way to go
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support CattleToday:
Message
<blockquote data-quote="Jogeephus" data-source="post: 900755" data-attributes="member: 4362"><p>You need to be sure you are not listed as the owner of the policy and its also wise to check to be sure the beneficiary is who you actually want it to be. Most insurers will stick your name down automatically as insured and policy owner but if you want the money to go to your spouse with no strings or taxes attached you need to put them as the owner and beneficiary otherwise you could possibly give half of it to Uncle Sam and he can hand out free cell phones to everyone which I'm sure may seem like a good thing to you, but unlike you, I am a selfish and when I die I want every dime of my policy to go to my wife instead of a mere half. Its splitting hairs but it can also be beneficial to have your spouse actually write the check even if it comes out of a joint bank account. This is sortof silly but for some reason it sometimes matters to the IRS cause they are all about everyone having a smart phone and they will go to great lengths to be sure they do.</p></blockquote><p></p>
[QUOTE="Jogeephus, post: 900755, member: 4362"] You need to be sure you are not listed as the owner of the policy and its also wise to check to be sure the beneficiary is who you actually want it to be. Most insurers will stick your name down automatically as insured and policy owner but if you want the money to go to your spouse with no strings or taxes attached you need to put them as the owner and beneficiary otherwise you could possibly give half of it to Uncle Sam and he can hand out free cell phones to everyone which I'm sure may seem like a good thing to you, but unlike you, I am a selfish and when I die I want every dime of my policy to go to my wife instead of a mere half. Its splitting hairs but it can also be beneficial to have your spouse actually write the check even if it comes out of a joint bank account. This is sortof silly but for some reason it sometimes matters to the IRS cause they are all about everyone having a smart phone and they will go to great lengths to be sure they do. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Non-Cattle Specific Topics
Every Thing Else Board
That's a different way to go
Top