Legal Question in Wills and Trusts in Texas
Texas; Establish a Will & Trust
I am married and have 2 small children. What forms would I need to give guardianship to my brother and put life insurance proceeds in a trust? I want him to be able to use the money as needed to raise the kids and let them have what's left when they're 25. Do I need a will and a living trust? Guardianship forms? Thanks.
1 Answer from Attorneys
Re: Texas; Establish a Will & Trust
You need a will, and to name your children as the beneficiaries of your life insurance. If they are minors the money will go into their testamentary trust.
Your husband will be the natural guardian of your children, so your brother would only become guardian if your husband predeceased you, or the court ordered him as guardian if your husband was unable to take care of the children. Your brother would be the trustee of your children's trust.
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