Single Parent

[smokin goose]

A single dad wants to get life insurance and make his 3 year old son the beneficiary. But if he dies before his son turns 18, he doesn't want his ex wife to get the money.

How does this work?

 

[Aram Fingal]

He needs to set up a trust, because the policy can't be paid out to someone under 18 anyway. Which would defeat the purpose of having it. He'll need to pick someone to administer the trust. He should probably talk to a lawyer.