Life insurance proceeds are includible in the taxable estate of the decedent if the decedent was the owner of the policy.

Question

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If the decedent owned the life insurance policy, the death benefit is considered part of their estate for estate tax purposes. However, if the policy was owned by someone else, such as a trust or a beneficiary, the proceeds are not included in the decedent's taxable estate.

Life Insurance Proceeds Are Includible in the Taxable Estate of the Decedent