DONATION OF LIFE-INSURANCES
Through a trust it is possible to subscribe a life-insurance without identifying individually the beneficiaries: the trustee, who is appointed as beneficiary of the insurance, will receive the amount of money agreed upon in the insurance and distribute it to the beneficiaries defined in the trust deed.In addition to the anonymity of the actual beneficiaries of the insurance, this trust allows to define the beneficiaries according to classes or categories (sons, nephews, etc.) and to decide on how the insured capital has to be distributed.
The trust provides the parents with the certainty that in the case of their untimely death, even if their sons are just about to be of age, the amount of money, often huge, paid by the insurance taken out, is not directly transferred to the sons.
Thanks to the trust, the amount will be protected by third parties and will be destined only for specific purposes (for instance education and support) and will be paid to the children and to the spouse according to the procedures, timing and amounts defined in the trust deed by the settler.