FURTHER INSIGHT.....ON ESTATE PLANNING
A podcast based on Adler Pollock & Sheehan's bimonthly trusts and estates newsletter, INSIGHT ON ESTATE PLANNING.
FURTHER INSIGHT.....ON ESTATE PLANNING
Why Contingent Beneficiaries Matter
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Season 1
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Episode 2
A will provides for the disposition of one’s worldly possessions, including a house, investments and other property. These go to the beneficiaries named in the will. In addition, this foundation is usually supported by documents for trusts, retirement plan accounts and life insurance policies. They also have designated beneficiaries. But the process may be a little more complicated than it first seems. Of course, one must list the primary beneficiaries in these documents, but it’s also imperative to include “contingent” beneficiaries for peace of mind. This article explains why naming contingent beneficiaries is critical.