Wills/Guardianship/Trust Question

[slappy]

We have an appointment to sign off on our will and name the guardian for our children in case we both pass away. My question is, do I need to have a trust set up now to name as the contingent bene for our life insurance?  Or is a springing trust in the will sufficient?

[frugalcoconut]

I don't know the answer to your question but I would imagine that this is state-specific as to what options are available.  The estate attorney should be able to answer those questions though.

[MrUpwardlyMobile]

I don't know the answer to your question but I would imagine that this is state-specific as to what options are available.  The estate attorney should be able to answer those questions though.

 This answer is really perfect.

[mxt0133]

The way we did our estate plan was to establish the trust which is unfunded until our assets pass to it if my wife and I pass.  As per my lawyer there is no special paper work to create a trust it is just defined in you estate plan, meaning you don't have to register the trust.

[rockeTree]

Our lawyer gave us very specific language to put down for contingent beneficiary- yours will too and if they don’t ask. This is as everyone has said jurisdiction specific.


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