ourt approves a guardian. A trust may be a prudent beneficiary choice, if a surviving spouse cannot A major issue in planning is who to name as beneficiaries on life insurance policies. The beneficiaries of a life insurance policy will generally receive the death benefit proceeds federal income tax free. A beneficiary is the one who receives the proceeds of a trust, retirement plan or life insurance policy. Most policies and plans will not directly transfer assets to minors until a trustee or a court approves a guardian. A trust may be a prudent beneficiary choice, if a surviving spouse cannot mies of a life insurance policy will generally receive the death benefit proceeds federal income tax free. A beneficiary is the one who receives the proceeds of a trust, retirement plan or life insurance policy. Most policies and plans will not directly transfer assets to minors until a trustee or a court approves a guardian. A trust may be a prudent beneficiary choice, if a surviving spouse cannot free. A beneficiary is the one who receives the proceeds of a trust, retirement plan or life insurance policy. Most policies and plans will not directly transfer assets to minors until a trustee or a court approves a guardian. A trust may be a prudent beneficiary choice, if a surviving spouse cannot e policy. Most policies and plans will not directly transfer assets to minors until a trustee or a court approves a guardian. A trust may be a prudent beneficiary choice, if a surviving spouse cannot ourt approves a guardian. A trust may be a prudent beneficiary choice, if a surviving spouse cannot manage a large sum of money. It is of utmost important to name secondary beneficiaries. If an individual dies without a valid will then that state's law specifies the order of legal beneficiaries to whom assets are distributed. Most of us tend to name minors as our beneficiaries when we buy a policy. For their sake, minors cannot receive or control proceeds.

In most jurisdictions, state law de