Legal Question in Wills and Trusts in Missouri
I have an insurance account. Don't know which is best. Do I leave it to my estate? Or do I leave it to my four beneficiares, equally? If I do the former it will put it in the hands of my executrix, and if I do the latter it will automatically be divided, and checks mailed to each beneficiary, once my death is proven. Which is better?
1 Answer from Attorneys
Your question goes to the heart of estate planning. You should see a competent estate planning attorney to discuss the options. You will need to decide if avoiding probate is important, and think about other issues such as privacy, the desire to protect the funds form your beneficiaries' creditors, divorcing spouses, etc., what will happen in the event of disability of a beneficiary, etc. This thinking then needs to be coordinated into a comprehensive estate plan that deals not only with the insurance, but your other assets, property, etc. as well.
Good luck -- let us know if we can be of further assistance.
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