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. Once you put your policy in the trust, it closes the door on many options you currently have. Jeynes said:'you can put any protection cover in trust but life insurance is the most obvious fit.

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The proceeds of a trust are typically overseen by a trustee(s) who you appoint. When you purchase a life insurance policy, you'll be given the option of designating one or multiple beneficiaries to receive a death benefit in the case you pass by setting up a trust as your beneficiary, you can avoid this issue and the trustee will manage the payout on your family member's behalf. That takes time and money for attorney fees and court costs.

How does life cover written in trust work?

Trust ownership of the policy. Jeynes said:'you can put any protection cover in trust but life insurance is the most obvious fit. How does life cover written in trust work? Keeping life insurance in a trust and outside your estate means your beneficiaries typically get access to the money faster, alleviating any financial burdens more quickly.