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Asked on June 17, 2015 under Estate Planning, California
Answered 9 years ago | Contributor
Legally, the amount of life insurance could be deducted from the amount specified in the trust but only IF the documents creating the trust themselves specify that this would happen. It would not be automatic: normally, the trust is independent of other sources of money. While the person making the trust can specify that other sources, like life insurance, would be taken into account, she would have had to specify that when making the trust.
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