While both types of compounds make up the basis of chemistry, the two types are rather different. The main difference is in the presence of a carbon atom; organic compounds will contain a carbon atom (and often a hydrogen atom, to form hydrocarbons), while almost all inorganic compounds do not contain either of those two atoms. While most inorganic compounds do not contain carbon, there are a few that do.
Minor Children: If your designated beneficiary is a minor (under age 18) at the time of your death, your benefit will be paid to the childâs court-appointed guardian. Alternatively, you may designate a custodian to receive the benefit on behalf of the minor under the Uniform Transfers to Minors Act (UTMA).
That is why setting up either an inter vivos â or a testamentary trust, is usually a good idea. You can make the trust the beneficiary of your policy and your child the beneficiary of the trust. The trust will administer the money until your child is old enough to legally do this on his or her own. Structuring your estate to protect the interests of your minor beneficiary is not a DIY project.