by lbyrd » Thu Feb 10, 2011 07:57 pm
I want my 4 yr old granddaughter to be the Beneficiary of my Life Insurance and 401k. I was told my daughter would get the money because she is the guardian of my granddaughter. What can I do to be assured that my granddaughter willl get the money when she is 18. I do not want my daughter and her b-friend to get their hands on the money. Please help! I live in TX..have worked at my job for 31 yrs. I have no property only Life Ins & 401k. thanks!
Posted: Fri Feb 11, 2011 07:02 am Post Subject:
You may set up a trust fund. The trust could be the beneficiary till your daughter turns 18. You may also stipulate her needs and the payments that have to be made on your behalf.
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