Who should be the beneficiaries of life insurance policies?
If the proceeds of policies will be included in your estate, and if you have a surviving spouse, then these monies will be eligible for the marital deduction and therefore defer the tax on the policies. You should name a contingent beneficiary, such as adult children. If a minor child is a beneficiary, then name a trust for the minor as the beneficiary. This can be a revocable living trust if you have one or a trust created under your will.
