Naming a trustee

After doing quite a bit of searching online, I’ve gained a great deal about life insurance.  My main issue of concern was the care of my more than 2 children if something were to go bad to me.  I’ve gained that along with a life insurance policy to deal with the cost of raising the women in the event of my death, I also needed to set up a trust to hold the cash for them.  While a trust fund sounds like something exclusively for wealthy people, they’re very beneficial for young families. The trust is space of an overall estate concern which includes a will in addition to the naming of guardians for the children.  Since my kids are all under the age of 11, it made sense to set up a trust. The trust holds home in addition to cash for the beneficiaries, which are my young kids, in addition to I’ve stipulated how these assets should be used in addition to managed.  I’ve appointed my older sibling as the trustee who would oversee everything. Instead of naming my young kids as beneficiaries on the life insurance policy, I named the trust in addition to my sibling as the trustee. If something would bad happen to me, my brother will manage in addition to spend the cash from the life insurance policy according to rules I established in the trust.  I was unable to name my kids as beneficiaries of the life insurance policy because they are still just little kids. The life insurance dealer would be unable to spend money benefits to them until the court appointed a guardian.

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