Archive for June, 2006
Guardians and Trustees
May or may not be the same person. The primary difference between the two is that the guardian may or may not be accountable for assets.
Common Disaster Clause
Provides that when both the insured and the beneficiary die in the same accident, or within a specified period of time after the insured, the insurer will proceed as if the beneficiary had outlived the insured.
Is paid a fee to administer a trust but is not allowed to access the funds personally.