By contrast, the life insurance proceeds pass to the heirs at the moment of death of the donor who dies last. And, they pass tax free. Richard Byron Peddie is an attorney at Frascona, Joiner, Goodman and Greenstein, P.C. , a Colorado law firm. His practice areas include Real Estate , Litigation , Business Law , Corporations , Securities , Estate Planning , Intellectual Property, Communications, and Entertainment. Information is not provided as advice for a specific matter, nor does its publication create an attorney-client relationship.
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