Does the family of George Floyd have to pay taxes on the $27 million dollars settlement?

Settlement money and damages collected from a lawsuit are considered income, which means the IRS will generally tax that money, although personal injury settlements are an exception (most notably: car accident settlement and slip and fall settlements are nontaxable).

The family will have to split with the lawyers usually the lawyers get 25% to 33%.

Yes. The tax man will take about a third, or 9 million, and the lawyers will get 6.75 to 9 million leaving the family with maybe 9 to 11.25 million.

Insurance company will be paying I think.

Attorneys usually take ⅓ and the IRS take about another big bite. The family will still get a big pile of money.