Insurance beneficiary
Should your beneficiary of your life insurance be your trust or individuals like your spouse and children?
Terry Says
That depends on your individual situation. Unlike retirement plan beneficiaries which should almost always be individuals, you have a choice. If you spell out asset distribution from your revocable living trust, then you can make the trust the beneficiary. Speak with your estate planning attorney, because you may have specific reason to name an individual as beneficiary for your life insurance policy. If you do that, be sure to name a secondary beneficiary, in case your primary beneficiary dies at the same time you do.
