Sandra F Carter
Junior Member
What is the name of your state? Texas
A life insurance policy has a beneficiary designation of Jane Doe, Trustee of the trust created under Will for the benefit of Children A, B and C, with no secondary beneficiary designation. Will provides a contingent trust until youngest child is over 25 and all children are over 25 when insured dies. Since the contingent trust never came into existence, who should receive proceeds of the policy -- children for whom trust would have been created if children were under 25 or the estate?
A life insurance policy has a beneficiary designation of Jane Doe, Trustee of the trust created under Will for the benefit of Children A, B and C, with no secondary beneficiary designation. Will provides a contingent trust until youngest child is over 25 and all children are over 25 when insured dies. Since the contingent trust never came into existence, who should receive proceeds of the policy -- children for whom trust would have been created if children were under 25 or the estate?