Georgia owns an insurance policy on the life of Jake, with Scarlet as the designated beneficiary. Upon Scarlet's death, no transfer tax consequences result.

Name: Georgia owns an insurance policy on the life of Jake, with Scarlet as the designated beneficiary. Upon Scarlet's death, no transfer tax consequences result.
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There are no transfer tax consequences upon Scarlet's death because she is the designated beneficiary, not the owner of the policy.

Georgia Owns an Insurance Policy on the Life of Jake