Legal Question in Wills and Trusts in California
naming beneficiaries
How can I name a name various beneficiaries on my life insurance should my spouse, child, and I pass away? Is there one form that I could use? The insurance company has my spouse, then my child, and after, could I have the money go into a trust and the trust would list various beneficiaries? Thank you.
2 Answers from Attorneys
Re: naming beneficiaries
You would have to create a trust first if you wish for the funds to be handled that way. Feel free to email me directly if you're interested in creating a trust. Alternatively, you can just name someone you trust as beneficiary and explain to them what you'd like them to do with the money if/when they receive it. However, this is risky.
-Ben
Re: naming beneficiaries
That is certainly a possibility if you have a trust. Some insurance companies allow you to name multiple beneficiaries for split gifts (first to your spouse, then child, then 10% to uncle Joe, 35 to aunt Susan, etc). I would check with them if this is your major concern and you do not have a trust.
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