Trusts & Estates Law/Insurance Policy by Trust
Ok. I am wondering if a trust can own a life insurance policy on a person? I do understand say that I can get a life insurance policy on myself or another, but was wondering if the ownership of that policy be changed to a trust. Hopefully you understand where I am trying to go with that. Thank you for your help and response in this matter.
It can transfer title to the Trust. Not sure you wish to do this, since insurance can be named and avoid probate and law suits. It would seem that this would defeat the purpose of insurance. If you do wish to do this, ask insurance company for assignment form and complete to transfer the title to the Trust.