 Is it possible to insure certain items on their own? |
I own an original authentic costume of a famous popstar and want to get it insured. Is it possible to do this / how do I go about doing this?
I know you can insure stuff under house & ... |
|
 Will a person get insurance claim in this situation??? |
| if a person gets lost in a plane crash........will his/her family get its claim??????? if yes how much???????... |
|
 Collision loss or Comprehensive loss? |
| OK, a question on a different board got me to thinking . . . Those cars on that bridge that collapsed . . .is the damage going to be covered under Collision or Comp? What about the cars that got ... |
|
 Can I have two health insurance policies? |
| I already have health insurance through my wife's company, but my company is now starting to offer insurance. We just renewed our policy at my wife's company, and that won't run out ... |
|
 Can a co. legally cancel an employee's health benefits when they lay him off due to a new health issue? |
| One weekend while off duty, my friend recently passed out and may have suffered a seizure. This had never happened before. He went to the doctor - the doctor did an EEG ordered and MRI. By the ... |
|
 How do I get my wife on my health insurance? |
| I'm going to be married in just over a week; afterwards, what do I need to do to add her to my health insurance? Am I supposed to tell my boss, or the health insurance company, etc.? I have Blue ... |
|
 Can you still collect life insurance if the person is executed by the state? |
| Lets say I have a life insurance policy on someone and he commits a heinous crime, waives all appeals and simply wants a quick death and I have an insurance policy on him, would I still be allowed to ... |
|
 How can i prove i paid co payments to my doctor.? |
It was 15 dollars every visit which i paid cash every time. i am getting a bill for $270 for services done during dec 2005. what can i do?
the lady said its also for deductible,but by that ... |
|
 Are there any loopholes regarding car insurance? |
| Coz I really cant be assed with it haha cant I just take out a policy when I crash?... |
|
 I have a whole life policy. Should I cash it in and get the cash value or keep it? It's $150 a year for $12K. |
| Had the policy for 20 years. I have a 30-year term life insurance policy and life and accidental death insurance through my employer.... |
|
 What is a good age to think about buying a life insurance policy? |
| What kinds of policies are there besides life insurance? Where should I start looking?... |
|
 Should bipolar people have life insurance? |
| I have Bipolar disorder and don't have life insurance- I'm 26. 30% of people who are BP commit suicide but I've never tried it. I don't think I will; I have a husband and step ... |
|
| Help please! Give me ur opinions about insurance claims problem? |
| 2 years ago i got injured(fractured spine) that caused by a bus driver. The insurance company are now offering me an amount that I think is so small for what I've been through. Can anyone tell ... |
|
 Renters OR Homeowners? |
I have a rental property in OH. My tenants said something flew off the house and damaged their car. Is this a claim for their renters insurance or my homeowners insurance?
Additional Details
|
|
|  |
bamagrits84 | How can I arrange for my life insurance to be automaticaly put in a trust for my kids? |
I was wondering how one would go about having the benifits from a life insurance policy put into a trust fund for her children. Say I wanted to leave each of my children with $150K in a trust fund that niether could touch until they are 21. Can I do this and prevent the guardian of the children from touching the money until the children are the age I have specified?
Is this the best way to go about it or should I leave the money to a responsible member of my family and ask them to put it in a trust and ask that they money only be used for college expenses until the kids are 21? |
 |
 
Andreas
 |
First you would have to establish a trust account for each of the children. The trust documents would spell out the terms. You would need to appoint a trustee for each account. The same person or institution can be named as trustee for each account. Finally, you would name the trust as the primary beneficiary of the insurance policy.
There may be better ways to do this, so you might want to talk to an attorney or estate planner. |
|
mbrcatz
|
OK, let's say, you leave the money to "a responsible member". You die, and a year later, that person dies, too. The money is NOW going to be part of their estate, and will be given to THEIR heirs. Will THEY use it and take care of your children?
Here's what to do: change the beneficiary clause to read, "the SMITH KIDS TRUST". Then you also need a will and guardianship papers for the kids, and the trust will need to be set up with the funds from the policy.
You need to set up the framework for the trust now, so that the trustees are NOT the guardians. And you WILL need a probate attorney to do all this so it's compliant with your state regulations. |
|
Goyo
|
Yes, that's the best way, and no, don't trust a family member, no matter how trustworthy they are, to handle something as you specify after your passing.
On your life insurance policy, there will be a beneficiary section.
Check with a trusted or trustworthy accountant or bank officer, and find out how to set up the trust fund based on the payout to the beneficiaries. While you are checking on that, ask the financial advisor if you put the trust fund as the beneficiary or the children. They will know all of the details as this is a common practice. All of the specifics for how the money will be allocated and disbursed will be written into the language of the trust fund itself. Make sure to specify everything about who gets it, when, how much at the time, and also, who does not get it (this can be in general terms - guardian, other relatives, friends, etc.)
The good thing about a trust fund is that it is totally separate from custodial issues. Nothing about guardianship can change the terms of a trust fund, only the person who set it up, or the payee(s) if it is specified that at a certain age they can change them. |
|
Tommy
 |
There are a number of different types of trusts that could be used. You should definitely hire a lawyer than will specify the terms of the trust in the trust documents. Make sure you consider the tax implications of any trust you setup as well. |
|
SafetyDancer
|
Repost this to the "legal" section of "Answers". |
|
loumotz
|
Have a lawyer draw up a will for you and state this in the will. thats what I did. |
|
insuranceguytx
 |
Talk to a lawyer. No one here can answer your question. That would constitute the practice of law without a license. |
|
deep5223
 |
Putting life insurance in a trust for the children is a good idea, but may not be the best way to provide for them. Suppose your guardian needs money to pay for braces or college tuition or some medical expense for the child and can not access the money. I certainly would advise consulting an attorney. Make sure the guardian can get some of the money to assist them in the added expense of raising your children. |
|
pedohunter1488
|
Hire lawyer, create trust
make trust the beneficiary of your insurance
file copies of all paperwork at local court house
done |
|
Christopher B
 |
Consideirng how much money we are talking about here I would contact a lawyer. They can certainy explain your rights and options is far greater detail than I. Since you have obviously thought this through I would suggest making sure your wishes are spelled out in explicit detail in both a will and verbally to your family members. Particularly the individual you have chosen to be the guardian for your children. Perhaps they can be involved in the decision maing as well. |
|
Mags
|
You should contact a professional - talk to them and they will advise the best way forward. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 18 minutes(s) ago
| | | |
11 | 28 minutes(s) ago
| | | |
10 | 47 minutes(s) ago
| | | |
11 | 2 hour(s) ago
| | | |
11 | 6 hour(s) ago
| | | |
11 | 10 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
11 | 2 day(s) ago
| | | |
11 | 1 week(s) ago
| | | |
11 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
