Thoughts on naming minor as life insurance beneficiary

Discussion in 'Politics & Religion' started by JangoFolly, Feb 27, 2006.

  1. My sister-in-law just took a new job, and is thinking of naming my minor daughter as one of two primary beneficiaries on her employer-provided life insurance policy. I can't recall for sure (and I can't get my CPA on the line today), but I seem to remember that there are major drawbacks in naming a minor as a beneficiary.

    Any thoughts would be greatly appreciated. Thank you.


    Regards,
     
  2. You can name a minor as a benificiary, however no insurance company will release the funds to a minor. It will go to probate and a guardian will be appionted and thye court will determine the distribution of funds.

    Bad idea.