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  1. #1
    Join Date
    May 2010
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    108

    Question Can My Living Revocable Trust Be a Beneficiary of My Husband's Life Insurance Policy

    My question involves estate planning in the state of: Florida

    My husband currently has a life insurance policy that names me as the primary beneficiary. I want to know if he can name my living revocable trust as a contingent beneficiary to cover if something were to happen and we were to die at the same time, so the proceeds would stay out of probate. He does not have his own trust because he does not have any assets in just his name. We do not have any children now but will be soon, and amending my trust seems easier than having to constantly change his beneficiaries, wait for it to be approved, etc.

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: Can My Living Revocable Trust Be a Beneficiary of My Husband's Life Insurance Pol

    A revocable living trust can be a beneficiary of a life insurance policy, and I expect that the insurance company would allow the designation if the owner of the policy requested it.

  3. #3
    Join Date
    Oct 2006
    Posts
    16,119

    Default Re: Can My Living Revocable Trust Be a Beneficiary of My Husband's Life Insurance Pol

    Quote Quoting Mermaidgirl
    View Post
    My question involves estate planning in the state of: Florida

    My husband currently has a life insurance policy that names me as the primary beneficiary. I want to know if he can name my living revocable trust as a contingent beneficiary to cover if something were to happen and we were to die at the same time, so the proceeds would stay out of probate. He does not have his own trust because he does not have any assets in just his name. We do not have any children now but will be soon, and amending my trust seems easier than having to constantly change his beneficiaries, wait for it to be approved, etc.
    Its certainly possible. Although the same thing could be done with a secondary beneficiary other than a trust. I note that you have several threads going about putting things into your trust. What are you trying to accomplish on an overall basis?

  4. #4
    Join Date
    May 2010
    Posts
    108

    Default Re: Can My Living Revocable Trust Be a Beneficiary of My Husband's Life Insurance Pol

    I am just trying to get everything in order. My grandmother recently passed away and there were some issues about the validity of her trust, so I just want to make sure my family is protected, while also keeping all of my non-marital assets still non-marital until I die.

  5. #5
    Join Date
    Oct 2006
    Posts
    16,119

    Default Re: Can My Living Revocable Trust Be a Beneficiary of My Husband's Life Insurance Pol

    Quote Quoting Mermaidgirl
    View Post
    I am just trying to get everything in order. My grandmother recently passed away and there were some issues about the validity of her trust, so I just want to make sure my family is protected, while also keeping all of my non-marital assets still non-marital until I die.
    Then you don't need advice from an internet message forum, but rather advice from an estate planner and/or an estate attorney.

    You can keep non-marital assets separate. You simply don't co-mingle them with marital assets. Its easy to designate in a will who your non-marital assets go to when you die. When you are talking about your share of marital assets (even when your ownership percentage is distinct) it gets more complicated and an internet message forum is an ok place to get some ideas, but you need the advise of professionals to make sure that you get things set the way you want them to be set.

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