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Corona Probate Law765 N. Main Street, #124 Corona, CA 92880
(951) 582-3800
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corona probate attorney 765 N. Main Street, #124 Corona, CA 92880 (951) 582-3800 |
probate attorney corona 765 N. Main Street, #124 Corona, CA 92880 (951) 582-3800 |
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estate planning lawyer 765 N. Main Street, #124 Corona, CA 92880 +1 (951) 223-7000 |
estate planning corona 765 N. Main Street, #124 Corona, CA 92880 (951) 582-3800 |
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1. Always keep policy and beneficiaries up-to-date.
2. Always have secondary and tertiary beneficiaries.
3. Never name minor children as life insurance beneficiaries. Instead, put a trust or guardian in place.
4. Never name your Estate as your life insurance beneficiary.
5. Always specify the details.
6. Never name a beneficiary dependent on government assistance as a direct beneficiary.
7. Don’t assume your will trumps the life insurance policy.
There are, of course, ways to keep the trust mostly in control of the family, which might be minors. One way to get around these problems is to create a pour-over trust in your will and name the minor as the trust’s beneficiary. A trust ensures that the trustee protects the funds until a time when it makes sense to distribute them. Trusts are also flexible in terms of how they are drafted. The trust can state any number of specifics on who receives property and when, including allowing you to distribute the funds at a specific age or based on one particular event, such as graduating from college. You can also spread-out distributions over time to children and grandchildren.
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