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The Watercooler
What do we know about Life Insurance?
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<blockquote data-quote="Tanya M" data-source="post: 690667" data-attributes="member: 18516"><p>Any insurance policy has a beneficiary and you can add a second beneficiary. The life insurance we have on myself and my husband, we are each others beneficiaries. If we both go at the same time, it goes to our trust. We put our entire estate into a trust and our grandchildren are the beneficiaries of the trust. The lawyer that did our wills also did the trust.</p><p></p><p>A trust is a good idea if you are leaving a house and other monies because it avoids probate. The ownership of what's in the trust immediately transfers to the beneficiaries. </p><p></p><p>Again, a financial planner is a good person to talk to as they can really help you to break things down.</p></blockquote><p></p>
[QUOTE="Tanya M, post: 690667, member: 18516"] Any insurance policy has a beneficiary and you can add a second beneficiary. The life insurance we have on myself and my husband, we are each others beneficiaries. If we both go at the same time, it goes to our trust. We put our entire estate into a trust and our grandchildren are the beneficiaries of the trust. The lawyer that did our wills also did the trust. A trust is a good idea if you are leaving a house and other monies because it avoids probate. The ownership of what's in the trust immediately transfers to the beneficiaries. Again, a financial planner is a good person to talk to as they can really help you to break things down. [/QUOTE]
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What do we know about Life Insurance?
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