Legal Question in Wills and Trusts in Illinois

As a contract, life insurance proceeds are payable to a beneficiary directly and are NOT controlled by a will. If you wish, you can name a trust as beneficiary for that person and then you may control as much as you wish. You should consult a lawyer licensed in your state for further details.

Good question.

If you want your will to control the distribution of life insurance proceeds you would have to name your estate as beneficiary, not the persons. But this would mean probate which most clients want to avoid.

A living trust as beneficiary is the best method because you have the best of both worlds, control over the distribution to the beneficiaries and probate avoidance.

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