(661) 414-7100
Santa Clarita Wills and Living Trusts Attorney (661) 414-7100
  • HOME
  • ABOUT
    • TESTIMONIALS
  • GET STARTED
  • RESOURCES
    • BLOG
    • VIDEOS
    • AUDIO
    • FREE WEBINAR
    • FREE DOWNLOAD
    • PAYMENT
  • CONTACT
  • HOME
  • ABOUT
    • TESTIMONIALS
  • GET STARTED
  • RESOURCES
    • BLOG
    • VIDEOS
    • AUDIO
    • FREE WEBINAR
    • FREE DOWNLOAD
    • PAYMENT
  • CONTACT

law office of robert mansour

BLOG
​

(661) 414-7100

Regarding Minor Children and Life Insurance

3/29/2014

 
VIDEO TRANSCRIPT: Hello again, everybody. This is Robert Mansour, broadcasting from my office in Los Angeles, where one of my areas of practice is estate planning. One of the issues that comes up oftentimes is when people have life insurance, they don't know who to make it payable to. Usually, they make it payable to a spouse, which is fine. And then, after the spouse, they name their minor children. Now, I'm not a big fan of naming minor children, and here is the reason why.

First of all, the life insurance company is not going to write a check to a minor and then, at age 18, I certainly don't want my kids having full access to the life insurance money. For me, I have a million-dollar life insurance policy, so I don't want half a million dollars to go to one of my kids and the other half to another kid. Frankly, that's just going to open up a lot of doors and make a lot of problems for them.

They may be subject to the influence of others. They may not handle that money well. I would much rather the money be guarded for them and protected for them, which is why I have my life insurance policy made payable to my living trust. The reason for that is I want the money to be protected for the kids. I want the money to be sitting there growing for them, distributed to them at an appropriate times for appropriate reasons.

I don't want that money going directly to the children, because they'll either squander it, somebody else will take advantage of them, who knows what? I would much rather it be payable to the Mansour Family Trust, which is my living trust. So, if you have a living trust or if you're considering creating a living trust.

I strongly recommend you consider making your life insurance payable to your living trust. It might be the appropriate thing to do. Thank you very much for watching this video and we'll catch you next time.


Comments are closed.

    Categories

    All
    Advance Health Care Directive
    Beneficiaries
    Blended Families
    Business Interests
    Children
    Community Property
    Disability
    Divorce
    Durable Power Of Attorney
    Estate Planning
    Estate Planning
    Estate Planning Seminars
    Executors
    Family Law
    Funding Your Trust
    General
    Guardianship
    Individual Retirement Account
    Joint Ownership
    Life Insurance
    Living Trust
    Living Trusts
    Online Resources
    Personal Property
    Probate
    Real Estate
    Separate Property
    Special Needs
    Tax Issues
    Title
    Trust Administration
    Trustees
    Trust Funding
    Wealth
    Wills

    RSS Feed

Home Page | About | Getting Started With Your Estate Plan | Free Audio Download | Testimonials 
 Estate Planning Blog | Video Library | Free Online Estate Planning Webinar | Disclaimer | Blog RSS | Contact Robert Mansour​
Visit our Google Business Page | Like Us on Facebook | Our Yahoo! Business Listing | Follow Us on Twitter | Linked In Profile | Our YouTube Channel
BrandYourself | Cornell University Listing


Santa Clarita Wills and Living Trusts Lawyer, Serving Valencia, Saugus, Castaic, Canyon Country,
Newhall, Stevenson Ranch and surrounding communities.


* The information on this website does not create an attorney/client relationship.  It is not legal advice and is presented for general informational purposes only.  Always consult with a professional when handling legal matters.  Your privacy is important to us.  Any information you submit is not shared with others.

Robert also handles Personal Injury Law - Click here to visit our separate personal injury website.

​Law Office of Robert M. Mansour | 28212 Kelly Johnson Pkwy #110, Santa Clarita, CA 91355 | www.MansourLaw.com | (661) 414-7100 
Picture