Seriously?That's generally poor estate planning. Note that you shouldn't be liable for income tax on life insurance payouts, either.
As for the "trillions" in deficits, we've gone from having a Democrat who actually ran a surplus (Clinton) to a Republican (Bush) who set us up with a "$60 billion, tops" war that's going to cost perhaps $10 trillion (we're still paying for that, and Obama really had nothing to do with that) and the current administration has tacked $4.1 trillion onto that in its first 2.5 years. Ya gotta wonder what "conservatives" are really conserving. The Tea Party is rolling over in its grave.