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I am buying a term insurance for both my busband and myself. We had a 2-year old. Of course the spouse is the primary beneficiary of the life insurace. But I am not sure about the secondary beneficiary. We don't have any family in the states. And recently I read an article saying don't name the minor as the beneficiary cause they can not access the money until they are 18 years old. It is suggested to use a trust. But I don't know how trust works. And how do I specify how much money to take out from it each year.

Thanks in advance!

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