Should a trust created to manage life insurance proceeds should be reviewed by mother of my son?

Asked 11 months ago - Clark, NJ

this is a FD case with joint custody. Mother asked the judge that I get life ins for my son. I did, and I created a basic trust that will manage proceeds. basically trustee will pay proceeds to cover future CS pymts if I die. I went to court, gave a copy of the Life ins certificate and told judge's assistent that I have a trust as a beneficiary. Somehow, judge sent us to talk to his assistent instead of him do not know why?Assistent said ok no problem. I was expecting judge to review the trust artcles but he did not. Should I provide the mother copies of the trust articles? I want to contact the ins company and provide the trust as beneficiary and also I have to tell my lawyer that the draft is ok,,but mother never sked me to review it.Should she review it or it is private?

Attorney answers (3)

  1. Robert M Lorey

    Contributor Level 12

    1

    Lawyer agrees

    Answered . Practically speaking, it would be far better to get her (written) agreement to the terms and conditions now than to fight about it later. If you both have lawyers, you will need to conduct the document exchange through them, but it should be a fairly straightforward process. The benefit of trying to get her agreement now is that once you end up fighting about the trust, you would be able to show that she once agreed to it and is now changing her mind for whatever reason.

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    Good luck!

  2. Fredrick P Niemann

    Pro

    Contributor Level 9

    1

    Lawyer agrees

    Answered . You do not need moms ok.Thats absurd.Just be sure its a support trust and dont let policy lapse or your estate will be sued.Ive handled several cases where just that fact pattern occurred.

    Advice provided is general in nature and should not be relied upon without retaining qualified and experienced... more
  3. Joel A. Drucker

    Contributor Level 7

    1

    Lawyer agrees

    Answered . No, you don't need to provide mom with the trust. She may be entitled to proof that you purchased the insurance.
    Just wondering-did you write up the trust yourself? Another point-a trust can't be named as a beneficiary. The trustee of the trust is what gets named as beneficiary. Ex: John Doe as trustee of the Jane Doe Living trust dated 1/1/13. Not, Jane Doe Living Trust.

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