Never name a child as a beneficiary on life insurance or assets. Instead, create a revocable living trust, name the trust as beneficiary, and specify inside it when and how much the child receives. This works for minors and adults alike.
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.
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