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need help serious insurance ?

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Banned
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Joined: Nov, 2016
Posts: 144
Posted: #1
does anyone know what happens  or the procedures  that go on when,in my case, an aunt left my 5 yr old son a potion of her  life ins  policy, does it go into a trust ti 18?...What?..thanks in advance
 
MVP
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Joined: Oct, 2008
Posts: 19156
Posted: #2
All policies can be different. You need to call the carrier and ask them plus get a copy of the policy. You need help reading a policy add me to your friend list and we can talk. 
 
MVP
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Joined: Oct, 2008
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Posted: #3
Are you thinking if the money goes to you being the guardian? 
 
Banned
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Joined: Nov, 2016
Posts: 144
Posted: #4
No not thinking it goes to me,but do I need to maybe actually set up a trust for him myself?..That was what maybe I was thinking if it does not already designate that it automatically go into a trust.
 
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Joined: May, 2014
Posts: 5110
Posted: #5
prob not the best question to ask on a degenerate forum
 
MVP
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Posted: #6
Quote Originally Posted by EuroPro:

prob not the best question to ask on a degenerate forum




Your wrong about that. I can only assume that your the degenerate. 
 
Veteran
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Joined: Dec, 2006
Posts: 4321
Posted: #7
If your aunt wanted the money to go into a trust,she could have set up the trust in her will or before hand.There is no hand beyond the grave and she can't tell you/your son how to handle the money.
You can set up an account for the son or you can stuff it under his crib.
 
 
Captain
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Joined: Oct, 2006
Posts: 7359
Posted: #8
just open a custodial account for him so that there is an actual place to put the money, then you or someone that knows finances can manage the money on his behalf until he is 18 (or 21/25 in some states)
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