So you’re interested in funding a trust with proceeds from life insurance. There are two ways that a trust might be funded by life insurance proceeds. A trust might be funded life insurance if an unfunded revokable insurance trust is created and you name the trustee of the trust as the policy beneficiary.
Another way you might make life insurance payable to a trust is to have a testamentary trust and name the “trustee to be named in my will” as beneficiary.
The only way to know for sure what the best way to fund a trust with the proceeds of a life insurance policy is to contact a New York Estate Attorney.
If you are looking for a New York estate attorney with locations in New York City and Long Island, call the Law Offices of Albert Goodwin at (212) 233-1233.