Bergenia crassifolia (L.) Fritsch--Pharmacology and phytochemistry by Shikov, Alexander N.; Pozharitskaya, Olga N.; Makarova, Marina N.; Makarov, Valery G.; Wagner, Hilde / Phytomedicine: International Journal of Phytotherapy & Phytopharmacology.
The insurance policy gets to grow tax free, so that when you die there is enough in the policy to pay the estate taxes. For example: You have a $20 million estate. When you die, this estate will pay $11 million in estate taxes, leaving your kids with a net of $9 million.Therefore, to fight this: You spend $5 million on life insurance. The life insurance grows tax-free from $5 million to $20 million.ow your estate is worth $35 million (your $20 million estate, less the $5 million premium, plus the $20 million payout). You now pay $19 million in estate taxes, which means that your kids net $16 million -- a full $7 million ahead of where you would have been if you hadn't bought any life insurance at all!
When to File the Income Tax Return. The income tax return for the year in which the person died is called the final tax return, and itâs due when it would have been due if the deceased person were still aliveâfor most people, on April 15 of the year after the year of death.