Legal Question in Wills and Trusts in Iowa

My queston is...I have a life insurance policy for $500,000 that I am leaving to my sister. And in the event of my death she is to give the money to my grandchildren over a period of time. To insure they are well taken care of in the event of my death. Is there a way she can get the money without having to pay any tax for it? Or can I put it in something where she can get as much out as she needs when she needs it for them without having to pay any taxes on that money?


Asked on 2/16/13, 11:19 am

1 Answer from Attorneys
Robert Luedeman solo practitioner

You want somebody to set up a trust. I suggest you talk to an attorney who specializes in these matters.

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Answered on 2/17/13, 1:59 pm


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