Estate Law Questions? Ask an Estate Lawyer.
Hi and welcome to JA. Ray here to help you tonight.Here if you are the named beneficiary you should accept the insurance payment and gift it to the kids.You cannot disclaim the insurance since it passes outside probate unless the life insurance folks will agree to it.Otherwise you can receive it tax free and gift it the kids again tax free.The limits for claiming the life insurance are $5,430,000 anything under this is not taxable to you nor taxable to the children.
This may be a different answer than you were expecting please follow up if you have more questions.Thanks again.
I can do unlimited chat here, not set up for phone calls.I will send you the offer to offer you unlimited follow up.
Be here all night , thanks again .