Can I add my kids has a Beneficiary on my work benefits?

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Can I add my kids has a Beneficiary on my work benefits?

My kids are under 18 and if I put them has a
primary on the policy and if I died before they
turn 18 does the money still go to them or do
they hold it until their 18.

Asked on August 11, 2018 under Estate Planning, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

It is great that you are doing a little estate planning here but you should really sit down with someone to discuss the whole picture.  What generally happens with insurance policies is that they pass outside the estate, meaning they are not subject to review by the Court probating the Will.  What the Insurer - the company that holds the policy - will not release the funds to the child.  They will require a guardian be appointed if there is no trust in place.  You should speak with someone about putting a trust in place to provide for them .  Good luck.


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