QUESTION
Can a funeral home be named as a beneficiary on a life insurance policy?
Asked on Jun 13th, 2012 on Estate Planning - Michigan
More details to this question:
Can a Funeral Home be named as a beneficiary on a life insurance policy?
5 ANSWERS
Yes.
Answered on Jun 14th, 2013 at 1:13 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Yes, the owner of the policy has a right to pick the beneficiary.
Answered on Jun 21st, 2012 at 7:25 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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Yes.. any legal entity can be named as a benificary on a life insurance policy.. However, if you intend to use it to pay for the burial fees you need to form a trust or leave specific instructions.
Answered on Jun 21st, 2012 at 6:05 PM
Business Formation Attorney serving Westland, MI
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Clos, Russell & Wirth, P.C.
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Absolutely, assuming it is a legal entity such as a corporation or llc.
Answered on Jun 21st, 2012 at 5:46 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Yes, it is possible to do this. It is not usually necessary, however, because in most cases, the other beneficiaries can assign the proceeds to the funeral home.
Answered on Jun 21st, 2012 at 5:44 PM