Insurance Tips

Leaving goods and money to a child after my death?

I am divorced, and am working on a will and a life insurance policy. If I I die, I want my 9-year-old son to inherit everything, but is too young to be a member of "beneficiary" and the money must be as a kind of "trust" I do not understand very well. What kind of trust / a I need to implement, where the real money / equity it will, but must be administered before the age of majority? I live in Texas.

Daniel is correct, you need a good lawyer. Call to four and Counsel Trust or five and ask that the lawyer would recommend, besides themselves, as the best for your needs. Then make an appointment for the lawyer. Please, not achieve or maintain a life insurance policy. It's not really a good "investment" vehicle and can have a good term life insurance for less. You have to decide in two different guardians or custodians. One for the physical custody of his son and one for the responsibility of caring for their money. They should not be the same person. Is too tempting to use more money than is necessary for your child before the age of majority. Also, seriously consider not allowing their child full access to its heritage, 18th birthday. Most young adults 18 years of age not only are mature enough to be responsible with a lot of money. Our statements of confidence that our children have a percentage of farm income from age 18. The percentage is different depending on whether or not in college. The percentages also rises in accordance with their age and if they graduate from college or not. His college is paid for the property. Do not get full control of his inheritance until the 30 years of age. Until then, only receives a percentage of revenues. I imagine that by the age of 30 must be able to handle money in a mature manner. Before that, sports cars and vacation trips are just too tempting.