<prompt> Human: Edit: Big thanks to everyone, Ive decided against buying a share and letting my siblings fight it out. Ill continue investing in a more intelligent mannerEdit 2: I am aware that life insurance is not an investment, you can stop telling me that nowHey, Im 23M and currently in college for an engineering degree. I do not have a job at the moment but I have about 50,000 saved which I have invested in various areas. Im wondering if I should divert some of this money to this plan.His life insurance policy used to be 600 a year for a 300,000 plan, but hes hit 59 12 so it went to 300 a month. The policy terminates at 99, so if he lives past that we get nothing apparently.There are 6 kids total, so the cost per share would be 50. The way I see it, if he lives to 99, the worst I can do is double my investment. 12 months x 50 x 40 years 24,000 invested, 50,000 payout.Is there anything that Im not taking into account here? Do I need to pay some kind of stupid taxes on this 50,000 payout? Anything like that?Thank you.Assistant: The big risk you arent mentioning is if the others decide to stop paying, you either have to pay it all yourself, or lose the policy. Human: Yeah this is looking to be a worse and worse idea as time goes on. Thank you for your inputAssistant: It is still doable with a proper side agreement.Human: Even if you have a side agreement it still has to be enforced, which means taking the non-payors to court.Seeing as the others have a vested interest in maintaining the payments, it would be likely that the only reason they would stop paying is because they could not afford to make the payments. So even if you did enforce it through the courts, youre still going to have trouble collecting. Not to mention you have to then take your sibling or siblings to court. Assistant: Even if you have a side agreement it still has to be enforced, which means taking the non-payors to courtNot necessarily but there is no guarantee that you can 100 stay out of the courts.- I am going to use the OP fact pattern 6 kids but assume each of them wants into the agreement. -I am also going to assume that dad doesnt mind being the trustee going forward and that he will remain fair and neutral.1. Dad creates a trust naming all 6 kids as equal beneficiaries. Dad is both settlor and trustee of the Nexion21s Dad Trust Dad Trust. Dad has the right to change the beneficiaries under the Dad Trust at any time.2. Dad changes the beneficiary on the Life Insurance Policy to Dad Trust.3. As part of the Dad Trust, all 6 kids need to put in up-front 10 years worth of payments 50monthly x 12 x 10 years into the trust as future payments for the policy.4. At the end of each year, each kid needs to give an additional annual payment 600 into the Dad Trust. So at all times, there are 10 years of payments in the Dad Trust.5. If a kid wants out or doesnt pay by EOY, dad as trustee under the Dad Trust, removes the beneficiary and returns the unused payments to the kid. The kid signs a release as well. Dad also has the Dad Trust and any removal of beneficiaries on file with the Life Insurance company.6. When dad dies, whoever is still named as a beneficiary under the Dad Trust receives a share of the death benefit.7. Keep in mind, if a kid is removed or wants out, the other parties must split the additional amount due. This would require an additional fee due at EOY and additional fees annually going forward.-Another solution, is every kid puts in 40 years of payments into the policy 99-59 or 24K 50annual x 40 years. Then the full 40 years are paid up-front and there are no issues. Or 20 years can be done.-Side note: If not every kid is in, the math changes.-Edited...Human: This is fantastic! If we decide to go through with the plan, the Dad Trust shall thrive in specifically the manner youve laid out  <response>: You should consider getting an attorney and letting them prepare it. 