Q: What are “contingent beneficiaries” and do I need to include them in my will or trust?

On Behalf of | Dec 23, 2020 | Estate Planning, Q&A, Trust And Estate Administration |

It is very common and understandable for people to set up their estate plan assuming all the people you want to leave money to are still living at the time of your own death. However, far too many court battles have taken place due to a lack of contingency planning, which is the naming of successor beneficiaries in the event one of your named beneficiaries predeceases you. Although it’s uncomfortable and even morbid to put thought into these possibilities, we cannot emphasize how critical it really is, especially in making sure your assets ultimately end up in the hands of your chosen beneficiaries, and not by way of a prolonged, expensive and contentious litigation.

If you have any questions about this, please feel free to reach out to us (707-681-5851 or [email protected]) or set up a complimentary consultation at your convenience by clicking on the following link: https://MyNapaLawyer.as.me/