Can you create a trust for life insurance payout?
I’m in my early 30’s with a wife and 2 kids. I’m the primary breadwinner and we have $1.1M in investments. I have a $2M term life policy as well. My concern is that my wife isn’t very financially minded and doesn’t care to learn either, despite my encouragement. So I’m worried IF something terrible happens and I die early, she’ll have around 3 million dollars and no idea how to properly manage or budget it.
I know you can put assets you control into a trust, but what about the money that would come from life insurance? Is there a way to limit access so she wouldn’t blow it all in a few years?
We live in Maryland.
Posted Apr 8, 2026, 2:48 AM UTC
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