Alabama § 19-3B-818 Life Insurance Policies Held by Trustee

Alabama Statutes

§ 19-3B-818 — Life Insurance Policies Held by Trustee

Alabama § 19-3B-818

Title 19Fiduciaries and Trusts

Ch. 3BAlabama Uniform Trust Code

This text of Alabama § 19-3B-818 (Life Insurance Policies Held by Trustee) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 19-3B-818 (2026).

Text

A trustee may retain any life insurance policy contributed to a trust by a settlor, or purchased by the trustee upon the request of the settlor, as an asset of the trust without regard to any lack of diversification caused thereby and without regard to the terms and conditions of the life insurance policy. The trustee shall not be liable for lack of diversification to any beneficiary of a trust for the trustee’s retention of the life insurance policy.

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A trustee may retain any life insurance policy contributed to a trust by a settlor, or purchased by the trustee upon the request of the settlor, as an asset of the trust without regard to any lack of diversification caused thereby and without regard to the terms and conditions of the life insurance policy. The trustee shall not be liable for lack of diversification to any beneficiary of a trust for the trustee’s retention of the life insurance policy.