Thoughts on naming minor as life insurance beneficiary

J

JangoFolly

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,
 
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.
 
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