Originally Posted by
bugman61
The estate tax exemption for a single person is about $13 million this year. Hard to imagine more than a few outliers with estates that large passing away while still active here with the company provided insurance.
And if the $1.1 million was your only income, your estate saves $365k on federal income tax.
There are some
states that levy an estate tax or inheritance tax below the federal threshold. DYODD, YMMV, talk to your estate planning attorney (or get one). The federal exemption is halved at the end of 2025 with the expiration of the 2017 TCJA.
I'm not sure why you are calling it 1.1 million of income. It's not income to the estate, it's an asset.