I am 20 years old, am a full-time college student with a newborn baby. I do not have any debt, nor do i have assets in excess of $5,000, including current vehicle value, although I do intend to purchase life insurance soon. I am also a single parent, the father has choosen to not be involved.
As such, I want to establish some documentation establishing a guardian for my baby, as well as appoint someone to manage her finances (the life insurance would go to her) until she is of age. I was also wondering if there are any protections I could set up so that the father can't get the insurance money for himself - if there were any ways to guarantee the life insurance would go to my child? I have been doing research into the various means of establishing this, I was just wondering which, in your professional experience, you would recommend for someone in my position, or perhaps some other type of will I haven't come across. Thank you for your help!
As such, I want to establish some documentation establishing a guardian for my baby, as well as appoint someone to manage her finances (the life insurance would go to her) until she is of age. I was also wondering if there are any protections I could set up so that the father can't get the insurance money for himself - if there were any ways to guarantee the life insurance would go to my child? I have been doing research into the various means of establishing this, I was just wondering which, in your professional experience, you would recommend for someone in my position, or perhaps some other type of will I haven't come across. Thank you for your help!
