To whom it may concern,
Recently my wife passed and at the time we weren't on good terms. She had a life insurance policy that I was the beneficiary, but was supposed to change the beneficiary to our daughter, but didn't do it before her death. So my question is 2-fold:
1. Are the proceeds from the insurance policy taxable?
2. When I give those proceeds to my daughter, will she have to pay taxes? She currently is not working and planning on attending a PhD program abroad.
Thanks
