In Canada, if you have referring to having the insurance proceed paid to a trust you have options.You can name the beneficiary as being in trust for the benefit of --- , or you can name a trust you have established as a beneficiary or name your estate and establish a trust in you will.
There are advantages and disadvantage to each method, it really depends on what you want to accomplish,
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
A trust can be set up by an attorney. For life insurance purposes, you may consider a revocable or irrevocable life insurance trust.
The structure of a life insurance policy with the use of a trust is generally the trust being the policyowner and beneficiary of the program (typically done with ILITS). From there the trust will control how the proceeds will be distributed - this is done based on what was instructed in the trust documents.
There are advantages and disadvantage to each method, it really depends on what you want to accomplish,
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
The structure of a life insurance policy with the use of a trust is generally the trust being the policyowner and beneficiary of the program (typically done with ILITS). From there the trust will control how the proceeds will be distributed - this is done based on what was instructed in the trust documents.