How should I name a minor child as a life insurance beneficiary in Nevada?

Minor children cannot legally receive life insurance proceeds directly — insurers cannot pay death benefits to minors without court intervention. If a minor is named as primary beneficiary without a proper structure in place, a court-appointed guardian must be established to manage the funds on the child's behalf — a time-consuming and potentially costly process.

Solutions for naming minor children as beneficiaries:

(1) Name a custodian under Nevada UTMA: designate an adult custodian to receive and manage the funds for the minor under Nevada's Uniform Transfers to Minors Act. Funds must be distributed to the child at age 18 (or up to 25 if specified). Simple to set up, but the child receives full control at the termination age.

(2) Name a trust as beneficiary: a testamentary trust (in your will) or a living trust can be named as beneficiary. The trust controls how funds are managed and distributed — for education, at specified ages, for specific purposes — with far more flexibility than UTMA.

(3) Name the surviving parent: if the other parent is expected to outlive you and will care for the child, naming the surviving parent directly and ensuring your estate documents express your wishes for the child's benefit is a simple approach.

Nevada agents in our network recommend discussing beneficiary structures for minor children with an estate attorney to ensure the structure aligns with your overall estate plan.