Hi I have a quick question. I have a life insurance policy. If I die the proceeds goes to my wife. My wife has huge medical bills. So if something happens to me I would rather my wife get the benefit of the policy, not the blood sucking hospitals..

Here is my idea and if you could tell me if it would work well... Thank you.

1. Start an LLC
2. Make my Kids each 47% owners and my wife a 6% owner.
3. Only my wife has voting shares. Kids do not, unless their mom passes away.
4. My wife then could just "borrow" money from the LLC and never take ownership on the entire amount of money.

Would this work?

I know GLP is not the perfect place but any Attorney found here would at least be thinking a little like me. LOL

Thanks again for reading and commenting.