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Finance/Insurance Video - Simon Says: Manage Your Money

Life Insurance Trusts

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Martin M. Shenkman, P.C.

Law Offices of Martin M. Shenkman, P.C.

4 Forest Avenue

Paramus, New Jersey 07652

Life Insurance Trusts

Life insurance trusts are something many people own.  However there are some questions about life insurance trusts that remain unclear.  One in particular is why a trust should own your life insurance policy.  Taking the time to review your life insurance policy is very beneficial to your future as well as your families.  Here are some other tips you can as well: 

1.  Life insurance owned in a trust is well protected.

-  It is protected by creditors, insurers, and claimants.

2.  Make sure a life insurance policy is well managed.

-   If not well managed there can be tremendous amounts of conflicts in the future.

3.  Anytime you’re buying insurance transfer it into the when buying the policy.

-  This will ensure it is well protected. 

4.  Monitor your insurance policies to ensure benefits to your family. 

5.  Make sure your attorney, finical consultant, and insurance representative stay in constant contact with each other.

6.  Make sure you have enough trustees or co-trustees.

            -  This ensures checks and balances.  

Staying on top of your life insurances trust and policies ensures longevity to your estate and keeps complications to a minimum.   Life insurance trusts are very great tools to use in terms of your estate.  

The above is a summary of a TV show episode on Piscataway Community Television Network in Edison, New Jersey, and his guest Martin M. Shenkman, Esq. an estate planner in Paramus, New Jersey. Listen to the video clip of this segment on www.laweasy.com for more financial tips.

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