Legal Question in Insurance Law in Florida

L:Ife Insurance

I would like to know what would happen if I put my children's names down as a beneficary on my life insurance and they are under-age when I died what would happen to the money?

How do I go about finding a company that will hold the life insurance in a trust fund and do you if they charge fees?

Thanks for you help in this matter.


Asked on 9/22/05, 11:00 am

1 Answer from Attorneys
Kelly Henderson

Re: L:Ife Insurance

Your last will can have a provision creating a trust for the money if you should die while the children are still minors. In that provision you can name a person, trust company or bank to be trustee. A trust company or bank will charge for their services.

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Answered on 9/22/05, 12:32 pm


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