What is the best way to name a life insurance beneficiary ?

Smoke-Porterhouse · 2022-06-01T16:26:41+00:00

I would not name the child — if something happens to you, the child would likely fall under the care of your ex wife and thus the door to her manipulating that money is open.

I'd establish a trust with an executor you can count on to make sure the funds go to your child. Trusts cost money of course, so in the meantime, as a short-term solution, make the beneficiary a friend you trust and have a written agreement with them what is to happen to the funds in case of your death.

4478933aaff · 2022-06-01T16:50:33+00:00

It doesn't matter if she asks you to list her as a beneficiary or not. Don't do it.

AdrianInLimbo · 2022-06-01T16:47:10+00:00

Yes, name oldest kid and/or, if able, a sibling of yours or other trusted executor.

Rock_Lizard · 2022-06-01T16:06:49+00:00

Name the child. This was also outlined in my divorce decree.

Most states do not allow an ex-spouse to claim life insurance even IF they are named beneficiary unless they were designated as beneficiary after the divorce was final.

smokintokinchokin · 2022-06-02T04:37:02+00:00

Making her the beneficiary will give her another reason to have you smoked. Like others have said use a trust and name a good controller.

postalmaner · 2022-06-01T19:22:06+00:00

Your court order or separation agreement will require you to provide evidence that you've named the child's other parent or custody holding guardian as "irrevocable beneficiary" of your life insurance.

It will often / also specific that your estate is obligated to pay if those benefits are not available.

Agitated-Fee-6497 · 2022-06-01T23:25:19+00:00

You can't name they child because they are under 18

holyshit_idkwigo · 2022-06-01T18:19:37+00:00

For my 401k and life insurance I named my stepmother as the beneficiary until I get a trust set up.

RandomOlderGuy · 2022-06-01T20:44:09+00:00

Set up a trust to continue CS through high school/18th birthday. You want to make sure your kid is taken care of. The stipulation pay for grades provision for college/tech school. Then allocate monthly or annual payouts for not enough to live on, to require work. as a productive member of society. If grandchildren come, reserve some for their education, otherwise exhaust the funds at age 45 or 50 for your child.

Title	What is the best way to name a life insurance beneficiary ?
Author	Ok_Reporter7884
Upvotes	10
Comments	13
Date	June 1, 2022 4:01 PM UTC (4 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/v2kbl9/what_is_the_best_way_to_name_a_life_insurance/
Archive Link	https://theredarchive.com/r/Divorce_Men/what-is-the-best-way-to-name-a-life-insurance.1117737 https://theredarchive.com/post/1117737

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