can a Life insurance beneficiary be a trust fund?

[Brandy]

What is the name of your state? What is the name of your state? Arkansas. Can a life insurance beneficiary be a trust or how can I be assured that my insurance will be used for what I intend it to be used for?
I am 40yrs old, don't have any children, my mother is 79 ( the only person whom I trust 100%) I have 38 acres that was deeded to me and my house is paid for. I have been married less than 1 month. My concern is for my animals. I have 4 horses, 2 cats and a dog that I would like to be assured that they will be taken care of. I don't have alot in savings but I have a $100,000 in life insurance and I would think that it would be enough to pay the taxes on the land and care for my animals until they die, they are all older.
I would appreciate any information. I understand that whom ever I make a beneficiary that the money is theirs to do with what they want and that there are no guarentees that they will follow my wishes

 

[knotcops]

Your beneficiary can be a trust. Your trustee is obligated to carry out your wishes.

 

[Brandy]

Thanks !

 

[hexeliebe]

Arkansas is not one of the states that recognizes a trust specifically for pets. (i.e., Pet Trust) Therefore, no matter what your intentions, there will have to be an executor appointed and then you're right back where you started, trusting someone to carry out your wishes for your animals.

There are any number of animal rescue organizations in Arkansas that could and would care for the animals and welcome such a plot of land to extend their efforts.

If you can think of nothing else, such a bequest would greatly increase your animal's chances of survival and a healthy life if something should happen to you.

Also, by placing the land with the Arkansas Land Trust, you can be assured that not only will you gain tax advantages immediately, but the land will never be subdivided, or used in any other way than what you intend it to be used for, the care of animals.