Life Insurance as an estate planning tool

Life insurance can be an important component of your estate plan.  When most people think of estate planning, they think of wills and trusts.  Contact Matrium Law Group to speak with a Montana attorney about your estate plan.  

Life insurance can help accomplish your financial objectives by providing immediate cash for payments of debts, costs of the last illness, burial expenses, and the costs of administration.  Having life insurance could help your family avoid a forced sale of your home or other property.  

You should be very thoughtful about how you fill out your life insurance beneficiary designation forms, especially if you want to designate your children as the beneficiaries and they are still minors.  Some of your options are to designate your living trust as the beneficiary.  If you don't have a living trust, you could set it up so that the proceeds are paid to an adult custodian for the benefit of the minor child to be held in a “Uniform Transfers to Minors Act” (UTMA) account.  Or, you could designate a testamentary trust for the benefit of children.  However, because everyone's situation is different, you should consult an attorney before making this decision.  You can contact a Montana estate planning attorney by visiting our website at  

Matrium Law Group is a family law and estate planning law firm.  We are committed to providing excellent, practical, and affordable legal counsel to our clients.  We are located in Missoula, Montana and we help individuals, families, and businesses throughout Montana.  For more information about Matrium Law Group, visit our website at