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.
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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.