Second to Die Life Insurance

Since the allowance of the unlimited marital deduction by the Economic Recovery Tax Act of 1981 ("ERTA"), a married person normally is able to postpone the imposition of estate tax until the death of the surviving spouse, by transferring…

Approximately 30% of the assets passing upon property owners' deaths represent proceeds of life insurance. Life insurance has been and, no doubt, will continue to be of major importance in estate planning.