1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    If a beneficiary is a minor the money would be placed in a trust until the child reaches 18, in most cases.  I do not recommend leaving life insurance proceeds to a minor child.  It would be better to either establish a trust or leave it to a trusted family member with instructions that the money be set aside and used for the child.  A trust would be the safest way because you can spell out how the children receive the money.
    Answered on April 30, 2013
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    If a life insurance beneficiary is a minor, the court will appoint a guardian to handle the money for the child until they reach the age of 18 or 21, depending on the state.  If you want to select that person yourself, you can name a property guardian in your will, or name an adult custodian for the life insurance proceeds under the Uniform Transfers to Minor Act (UTMA).
    Answered on July 14, 2013
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