How Do I Make Sure My Life Insurance Payout Gets Handled Correctly for My Kids?

How do I make sure my life insurance payout gets handled correctly for my kids_ 956x538 blog

A Q&A podcast with Maureen Pritchard, estate planning attorneyHere are the listener questions Maureen answers:

  1. “[Do I just] assign/designate guardians with separated responsibilities plus a will?”
  2. “Is it better to have a trust where the insurance money gets deposited and designate the smarty cousin as trustee?”
  3. “I assume i have to designate the trust as the beneficiary of the life insurance?”
  4. “Does it matter whether it is irrevocable/revocable?”
  5. “Can the trust be nearly empty the whole time?”
  6. “Are there any other alternatives?”
  7. “If the costs of setting up the different options can be vastly different, under what circumstances should someone choose the more expensive (and presumably more complex) option? And when does it not matter?”

Involved with a probate estate? Writing your will?  Pick up a copy of my book:

How Probate Works Cover 3D

How Probate Works: A Guide for Executors, Heirs, and Families

Available at Amazon.com

Questions answered in the book:

A testimonial from a reader:

⭐⭐⭐⭐⭐ “As I begin down this path with my parent’s estate, I found this resource very helpful. While the task before me now seems even more daunting than before, it’s more of an informed weight as I have an idea of what’s coming and how much it will require of me. It’s no longer the mysterious unknown that feels overwhelming, but a process that I can work through one piece at a time.”

*Disclosure: Links to my book are “affiliate links,” and as an Amazon Associate, I earn from qualifying purchases.