Gift Tax Return

[spanel]

Would this require a gift tax return?

Client is sole name on life insurance policy.
In the will, it says she needs to split it 4 ways however.
Client receives 80,000 and writes 3 checks to siblings for 20,000 each.

Do we need a gift tax return?

Thanks

Chris

[New York Enrolled Agent]

Your taxpayer was apparently the sole beneficiary. The insurance proceeds all belong to her. If she chooses to honor the wishes of the decedent then she is making a gift to each of the other beneficiaries. A will cannot override a beneficiary designation.