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Your estate will have to settle all your debt, including IRS or state debt before anything is distributed to beneficiaries.
What do you mean with "as payments are received"? Do you mean continue in your installment agreement?
Ok. So you are talking about installment plan that pays you, not the IRS installment plan.
IRS doesn't allow installment sale on sale of company stocks or securities so I am not exactly sure what's the arrangement.
If and how the payments continue after your death it is question for the broker or administrator of the plan.
If your beneficiaries inherit the payments, the interest received after your death will be taxable income to the beneficiaries, interest received before your death will be taxable to you or the estate.
Usually, an installment plan/payment consist of repayment of principle and interest. The interest is taxable, the principle is not.