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What happens if you have two children, but only one is named beneficiary on life insurance policy and is a minor?

The oldest child is19 and parents are divorced.

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That is a no win. If you don't help the older child he will be very upset but when the younger child is older he will be upset if you gave the older child any of his money, and legally you can't give it to the older child. The money was left to provide for the younger child which can include rent and food so I would use some for household and and use your own money to help the older child with rent if he wants to move out to try to make it somewhat fair. Only some of the money should go to current needs but most should be put away fur future and college. When he is of age he can decide if he wants to share with his brother. It's not really your decision as right or wrong it belongs to the younger child.

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In my opinion, I would suggest that you help the older one to insure himself but with the parents support since he is of adult age. Both parents should be involved in his insurance cover even if they are divorced.

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My ex-husband is already deceased. I am trying to figure out what to do because only minor child is named beneficiary.
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