estate planning

Can I Create a Trust with Insurance Proceeds? Smart Wealth Transfer Strategies

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šŸ›ļøĀ Using Insurance Proceeds to Fund a Trust: Key Concepts Yes, you can absolutely create a trust with insurance proceeds. This advanced strategy combines the benefits of: āœ…Ā InsuranceĀ (Tax-free payouts under Section 10(10D)) āœ…Ā TrustsĀ (Controlled distributions, probate avoidance) How It Works Diagram Code (Common for life insurance, but also works with health insurance critical illness payouts) šŸ’”Ā 3 Ways … Read more

Can Health Insurance Replace a Trust? Key Differences Explained

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šŸ›ļøĀ Health Insurance vs Trust: Understanding the Core Differences Health insurance and trusts serve fundamentally different purposes in financial planning: Feature Health Insurance Trust Primary Purpose Cover medical expenses Manage/distribute assets Cost Coverage Hospital bills, treatments Any expense (medical, living, etc.) Control Insurer decides claims Trustee manages funds Setup Complexity Simple application Requires legal documentation Tax … Read more