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@ativyl p.s. or would a one-year policy be too expensive, thus back to my original financial problem?

@ativyl Well, I'm referring to the divorce settlement agreement which says I have to make my ex the custodian of the policy that covers the year of child support. But you're right otherwise, I do not want my ex to be the custodian of my big existing policy. What did you mean by at one year I...

@ativyl Hey, so my existing term policy is 500+k and goes until 2029, I think. I do not want my ex to have it, only my kid. My kid reaches majority in just over a year. And since my divorce agreement says that my wife is to be named the custodian on a life insurance policy that covers my child...

@ativyl Can you tell me how to file a custodial statement? Is it me writing it out, stating or designating the friend? And the insurance company has to take it along with my beneficiary form?

@ativyl Ah, thanks. Is the only way to get the explicit custodial statement with a trust, any other option there?

Hi, I need a life insurance policy to cover the child support total I am to pay, I read that's pretty standard in divorce settlement agreements. It says our kid is to be the beneficiary and my ex is to be the trustee of the insurance proceeds. But when I called my life insurance company they...