California doesn't have an estate tax. The Insurance premium refund would not be taxable, however the CD may contain some taxable income, if there is growth in income, interest earned, etc, after the date of death of the decedent. So any interest earned after that date would be taxable on that CD or savings certificate. Arkansas also has no inheritance tax, any taxes that could have been levied would have been levied on the estate during probate. There is no inheritance tax in California or Arkansas on decedents.
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