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Community And Separate Property Interests In Life Insurance Proceeds: The Risk Payment Doctrine In State Courts And Its Federal Estate Tax Consequences, James M. Higbee
Community And Separate Property Interests In Life Insurance Proceeds: The Risk Payment Doctrine In State Courts And Its Federal Estate Tax Consequences, James M. Higbee
Washington Law Review
This comment will first examine the decisions of the Louisiana, Texas, Arizona, Idaho, and New Mexico courts in which the risk payment doctrine has been approved for use with term insurance in order to determine how well established the doctrine is in each state. The status of the risk payment doctrine in state courts is important because "state property rules control the estate taxation of community property life insurance." The estate tax consequences of the risk payment doctrine will then be considered.
Community And Separate Property Interests In Life Insurance Proceeds: A Fresh Look, James M. Higbee
Community And Separate Property Interests In Life Insurance Proceeds: A Fresh Look, James M. Higbee
Washington Law Review
This comment examines the difficult problem of characterizing the proceeds of a life insurance policy as separate or community property where the policy insures the life of a spouse and premiums have been paid with both separate and community funds. The problem commonly arises when a person takes out a life insurance policy while single, pays the first few premiums from separate funds, and then maintains the policy with community funds following marriage. Upon death of the insured spouse, the characterization of the proceeds as separate or community or partially both is significant for two reasons. Not only may such …