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From Policy to Payout: Using Trusts to Control Life Insurance Benefits
In certain circumstances, it may be appropriate to designate a trust, rather than an individual, as the beneficiary of a life insurance policy. Upon the policyholder’s death, the trust receives the proceeds and administers them according to the grantor’s instructions—commonly to settle debts, preserve family assets, or fund specific goals such as a child’s education.
Here, I discuss using a trust as your beneficiary.
Who Needs a Will Anyway?
Adults should consider a testamentary will for several reasons…but that’s not all!
