Beverly Hills Life Insurance Trusts

Written by Johnny Kitchens
Bookmark and Share

Beverly Hills life insurance trusts are often used in concert with other estate planning devices. Comprehensive Beverly Hills estate planning usually includes trusts, wills, insurance policies, powers of attorney, and other financial devices. Your specific situation should dictate which devices you choose, as they may all apply to you in different degrees.

You should absolutely avoid any person or business entity which purports to know which devices are best for you, without a thorough understanding of your situation. The catch-22 here is that you do not want to give your sensitive financial information over to just anyone who asks. Approach it like buying a classic car, know the seller, know the product, and do not give in to pressure.

Beverly Hills life insurance trusts are usually only payable upon death. They may not account for lengthy terminal illness or incapacitation. For those possible eventualities, it is usually best to have drafted a living will. Beverly Hills living wills define your wishes for activation of your estate plan and for your care should you become unable to care for yourself.

Obtaining Beverly Hills Life Insurance Trusts

Beverly Hills life insurance trusts are usually prepared by insurance specialists. However, when preparing your estate plan, your attorney may initiate the drafting of such a trust. When you give your attorney the power to do so, he/she may pull together the disparate elements of a comprehensive estate plan, with your approval but without your constant involvement.

Bookmark and Share