I ALREADY KNOW ABOUT LIFE INSURANCE
2007-07-22 18:51:05 · 3 answers · asked by angsstarliht 2 in Business & Finance ➔ Insurance
Make out a will!!! This is very important. Specify who will take guardianship of the child in your absence. It can be done online in most cases. If not, you can write it out yourself and have it notorized. This will stand up in court if there are any issues as far as who you want to take care of the child, ie ex-spouse, grandparents, extended family, etc... . And it is good that you already know about life insurance, but who do you have as the beneficiary? Is it the child? Is the child a minor right now? If so, then you can still name the child as beneficiary, but you will also have to name an adult until the child is 18. In my case, I have my son as sole beneficiary (he is ten) and my mother and my brother are co-beneficiaries. If I die before he is 18 the money will go 50-50 to my mom and brother with the stipulation that the monies are to be used for my son. I trust both of them and know that they will see that he is taken care of. I am divorced and did not want to risk just naming my son and having the money go to my ex and not be used for my son. If he is over 18 then 100% will go only to him. I also have a will stating that my parental rights will go to my mother. If she has already passed on at that time they will go to my brother. You may also want to speak to an attorney. They can tell you what specifically needs to be stated in a will. I hope this helps.
2007-07-22 19:11:45 · answer #1 · answered by Anonymous · 8⤊ 0⤋
Wills
Put money on a CD account on your name and childs name
2007-07-23 01:59:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Who will be the legal guardian?
Where will your child live?
Get a legal will from a lawyer.
2007-07-23 01:55:23 · answer #3 · answered by fcas80 7 · 0⤊ 0⤋