Can a testamentary trust be the beneficiary of a life insurance policy?

Answer Yes. It is possible to name a testamentary trust as the beneficiary of a life insurance policy. However, you will need to check with your state tax laws to determine if doing so will add the life i... Read More »

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Can a Testamentary Trust Be the Beneficiary of a Life Insurance Policy?

If you have a testamentary trust, it begins to work after you die. If you want to name the trust as the beneficiary of a life insurance policy, you have to create the trust before you die with the ... Read More »

Can a Trust Be a Life Insurance Beneficiary?

Most U.S. jurisdictions allow life insurance trusts, in which a trust is designated as the beneficiary of the life insurance proceeds. However, the settlor (the individual assigning the life insura... Read More »

Is a living trust a testamentary trust?

A living trust is not a testamentary trust. A living trust--also known as an "inter vivos trust"--takes effect in the maker's lifetime. In contrast, a testamentary will go into effect only after th... Read More »

Does a beneficiary of a living trust have the right to see the trust?

A beneficiary's right to examine a revocable living trust does not exist until the trustor---the person who made the trust---dies. The beneficiary then has the right to request a copy of the trust ... Read More »