Don’t make your minor child your beneficiary..

24 Feb 2022 · 1 min

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In this short instructional video, the speaker warns against naming a minor child directly as a beneficiary of a life‑insurance policy or any inheritance, explaining that a child cannot legally receive such assets. Instead, he advises setting up a revocable living trust, naming the trust as the policy’s beneficiary, and appointing a trustee. The trust can then specify the amount, timing, and conditions under which the child (or even an adult child) receives the funds. The speaker invites viewers to comment on the advice and to follow the channel for more similar content.

Chapters

Never ever make a child your beneficiary on your life insurance policy or on anything else for that matter. A child cannot receive an inheritance of money. A trust will have to be set up for them and a trustee appointed. What you should do is this: create a revocable living trust, make the trust the beneficiary of the life insurance policy, then you stipulate in the trust how much of the money the child is to receive, when they are to receive it, and And if you want to, under what circumstances? Even if your child is an adult, this is still the best way to give them an inheritance. If you want to fight me or agree with me, leave a comment. And if you want more information like this, follow my channel.