I'm a single mother and have a life insurance policy. I'm having my 18yrs son as the beneficiary, but how can I make sure that the funds are distributed correctly, I also have a Living Trust.
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Do you have a financial advisor and or attorney to help you with your living trust and life insurance policy? If not, please consult with one as soon as possible, you never know when the unexpected will happen and you should always be prepared especially as a single parent.
My recommendation would be to have your life insurance payout go into your living trust, essentially your living trust becomes your beneficiary. You will need an EIN number and an open bank account, both are easy to attain. Have all of your wishes spelled out in detail in your living trust and a family member or close friend as the trustee to carry out your wishes.