In addition, even if a spouse or child of the insured is named as a beneficiary of the policy, the insured’s rights and interests in the insurance money and the contract are exempt from attachment and execution. Thus, a life insurance policy provides a high level of estate protection even though the insured enjoys substantial contractual rights under the policy. In contrast, in a trust arrangement, asset protection may be compromised if the contributor has broad powers. The ability to designate beneficiaries in a life insurance contract is another attractive feature. Upon the death of the insured, the insurance proceeds are remitted directly to the beneficiary and do not have to pass through the insured’s estate. Therefore, the insurance proceeds are not subject to probate fees and are protected against the claims of the insured’s creditors. Barbados life insurance is therefore an excellent alternative to the trust as a wealth preservation instrument.