| Before getting term life insurance, the parent with minor children?

Before getting term life insurance, the parent with minor children?

liliana asked:


needs to set up a trust fund ? or manager. A will needs to be made. Who is the best person to talk to about this. I’m trying to plan ahead incase my husband and myself pass away. I don’t want to sign up to get term life insurance untill I set up some kind of trust fund to disberse the money to go to different places including the person who will be taking care of my children. who is the best person to talk to ? and what is the cost approximately ? Do I go to the bank, atorney, financial planner ? the person who is selling the term life ? who is the appropriate person to go to?

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Comments

3 Responses to “Before getting term life insurance, the parent with minor children?”

  1. insuranceguytx on April 11th, 2009 3:35 am

    Talk to both a financial planner and an attorney. Both have separate but related duties that you need.

    Good Luck.

    *

  2. mbrcatz17 on April 11th, 2009 3:10 pm

    You’re going to need a lawyer for htis. So talk to family and friends about who’s going to be guardian and trustee, and talk to a lawyer.

  3. LifeInsuranceAgent on April 12th, 2009 4:28 pm

    See an attorney to set up wills and trust for insurance.

    The attorney can help you setup the terms, who should get money, how much, when they will receive it, etc..

    You can look online for trust and will setup costs and compare to attorney, but i imagine attorney will hit you for $1000 - $1500. This is a boilerplate type doc for them.