I have a question. I am divorced and have 2 children. Is it a trust I need to set up as a beneficiary on my life insurance policies? Should something happen to me, I do not want their Dad to receive my life insurance. I would like for the money to be held somehow with my brother having the authority to authorize money for various reasons (college, etc.). Any remaining funds would go to my kids when they are adults and reach a certain age.
So, my questions- Is it a trust I need to establish to list as my beneficiary.