Why contingent beneficiaries shouldn't be an afterthought
August 2, 2013 by Tom Nawrocki
One of the most crucial pieces of estate planning is designating the beneficiaries for trusts, life insurance and other accounts that would be passed along at the time of death. For most people, that’s pretty automatic: their spouse is their primary beneficiary and, perhaps, their children are co-beneficiaries.
But the question of a contingent beneficiary — in case the primary beneficiary is deceased or incapacitated — is often made quickly, without a great deal of thought.
Originally Posted at LifeHealthPro on August 1, 2013 by Tom Nawrocki.
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