No Child Beneficiaries

4 May 2023 · 1 min

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0:35

In this brief estate‑planning video, the speaker warns viewers never to name a child—whether a minor or an adult—as the direct beneficiary of a life‑insurance policy or other assets, because a child cannot directly receive an inheritance. Instead, he advises creating a revocable living trust, naming the trust as the policy’s beneficiary, and appointing a trustee. The trust document can then specify the amount the child receives, the timing of distributions, and any conditions attached to those payments. The speaker emphasizes that this approach is the safest way to pass on wealth to children and invites viewers to comment on whether they agree or disagree.

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.