u/Reasonable_Agent5500

Ohio. We have life insurance policies naming our trust as the beneficiary. After we are both dead, the Trustee of the Trust is currently a bank that will no longer do trust services as of the end of 2026. In our search for a new successor trustee, we're having a hard time deciding whether to use a trust company that also takes care of the investing, or one in which our children (beneficiaries of the trust) would consult with a financial advisor to do the investing side, if they desire. Both types of trustee companies charge huge fees. Either way, potentially, all the money could be lost (worst-case scenario) if bad investments are made. Is either option safer than the other in that regard. We don't want to name our children as trustees to prevent loss of the money if they are sued/get divorced, etc. Thank you for your thoughts.

I am age 58, female, in perfect health (no issues, no prescriptions). I have a small, permanent life insurance policy currently. I am terrified for the financial future of my two adult children. They both have jobs, are self-sufficient, and are saving what they can in 401Ks, etc, but I have a strong suspicion that Social Security and Medicare will not be available in 35-40 years when they need it. I would like to get a significant life insurance policy on myself to give them a little boost/help for their retirement. I do NOT need this policy to make any money for myself (other than hopefully pushing the policy age past 90 where it currently is guaranteed to just in case I live to be really old) nor will I need to ever withdraw any money from it. I've been approved for an IUL, but now I'm wondering about a VUL? VULs are a bit cheaper, but am I missing something? Which type of policy is the better way to go in my circumstance? Thanks.