MZ9
New Member

My Dad is the beneficiary of my Mom's life insurance policy of $125,000. Can he give me the money in one lump sum and not pay the gift taxes on it?

My mom was going to change the beneficiary after her and my Dad got divorced but she didn't do that before she died. How can my Dad get around the gift tax and give me the whole life insurance money? This will be for the 2016 tax year.