I have listed my mother as my beneficiary, but the next person I would want it to be would be my son who is 3 years old. I was told that I would need to make a trust for him and list the trust as my other beneficiary and set him at a certain age to receive the funds, but I am unsure of how to go about doing this. Could someone please inform me because I just do not know how to piece it altogether. Thanks!
Change the beneficiary to your son if he's an adult, and if he's a minor, you need to appoint a guardian for your son, which may also be your mother. See an estate lawyer for help.
Avvo doesn't pay us for these responses, and I'm not your lawyer just because I answer this question or respond to any follow-up comments. If you want to hire me, please contact me. Otherwise, please don't expect a further response. We need an actual written agreement to form an attorney-client relationship. I'm only licensed in CA and you shouldn't rely on this answer, since each state has different laws, each situation is fact specific, and it's impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue.
Personal Injury Lawyer
Contact your life insurance agent and let him know you want to name your 3 year old son as a beneficiary. The agent is in the best position to let you know the life insurer's process for naming a minor as a beneficiary and how they would handle the distribution of funds in a way that most protects your child..
Car / Auto Accident Lawyer
Get a trust that has provishions for a minor. retitle the polocy in the name of the trust.
The materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to this Web site or any of the e-mail links contained within the site do not create an attorney-client relationship between Howard Roitman, Esq. and the user or browser. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.