Posted By:
Frank WakefieldI said some of that...
Feds to the estate tax on large estates, some states have an inheritance tax.
For Kentucky, there is a spousal exemption, close family members are taxed at one rate, others at a higher rate... The esate "collects" the tax and sends it in to the state. If I left you $5000, you'd get that minus the tax since we're not kin, the executor with help of his attorney would send that in to the state so the inheritance tax return would be approved.
But still, and I'm about to give up, you miss the point. It isn't about what happens when you die with a card. It is about what happens when you list owning a card on an insurance schedule, and then when you die the card is gone. If you aren't understanding that, you're missing a significant matter.