I have a son who is 29 and disabled and i would like to leave him a percentage of my life insurance policy in the event of my passing, what is the best way to go about this?
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I have a son who is 29 and disabled and i would like to leave him a percentage of my life insurance policy in the event of my passing, what is the best way to go about this?
I have a son who is 29 and disabled and i would like to leave him a percentage of my life insurance policy in the event of my passing, what is the best way to go about this?
Asked on November 9, 2017 under Estate Planning, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
You are estate planning which is a good thing. With life insurance policies you can designate a beneficary or beneficiaries using a Designation form so that the proceeds go directly to him rather than in to your estate. You need to ask the company if they permit you to put in percentages. If he is disabled perhaps setting up a trust for his benefit may be a good idea as well and having the funds go in to the trust. Good luck.
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