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  1. #1

    Default Tax law relating to divorce

    My elderly father was divorced by his second wife last year. He cashed in his life insurance policies to pay her. Who pays the income tax on this money. The check was sent to him and he promptly turned it over to her attorney's account. He received no benefit from the money.

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,431

    Default Cashed Annuities to Pay Settlement

    It is your father's income, and thus he would pay the income taxes.

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