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Ask Dave

Variable Special Needs

Tammy needs to get away from her life insurance agent and set up a simple will and trust for her special needs daughter.

QUESTION: Tammy has a special-needs daughter and is getting variable life insurance policy to take care of her from a life insurance agent. Dave says to get away from this agent and just do a simple will and trust.

ANSWER: You don’t need to pay someone to do this. Just get a simple will and trust to take care of this. I think you need to get away from this guy. Take care of your kids until they can take care of themselves. You just set up an inheritance for this child for when you pass away, and that’s called a special needs trust.