How To Leave Life Insurance To Children? 
I agree , the safest way to leave your child life insurance proceeds is to set up a trust with a trusted attorney . It should only cost a few hundred dollars , but you will have total piece of mind that your children will legally be taken care of in the event of your death . Not only should you consider how the proceeds should be allocated while the child is a minor but may be rationing the proceeds as a young adult . You can only imagine what an 18 or 19 year old would do with a lump sum check of $ 500,000 or more . Within a trust you can allocate funds at different ages or life events , such as a home purchase or marriage , so the money is not spent or `` blown '' on parties or sports cars . A legal trust is your best bet and change the beneficiary to this trust . 