I need to know what is the best route of leaving my life insurance money to my son who is 3 years old.

Asked about 2 years ago - Greenwood, DE

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!

Attorney answers (3)

  1. Pamela Koslyn

    Contributor Level 20

    1

    Lawyer agrees

    Answered . 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... more
  2. Gregory M. Stokes

    Contributor Level 10

    1

    Lawyer agrees

    Answered . 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..

  3. Howard Robert Roitman

    Contributor Level 17

    Answered . 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... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

26,622 answers this week

2,995 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

26,622 answers this week

2,995 attorneys answering