IRAs, 401(k)s and other retirement plan assets.With each account, you will need to name a beneficiary to receive the benefits of your plan.
Life insurance policies.You will need to name the beneficiaries of your life insurance policies to receive the death benefits after your lifetime.
Any assets you own jointly with rights of survivorship.If you are the first of the two joint owners to die, your part will automatically pass to the surviving joint owner. Note, however, that your share of assets held as tenants in common will flow through your will to your beneficiaries.
It Doesn't Have to Be All or Nothing
You can name us as a contingent beneficiary of your retirement plan assets or life insurance policies. That way we benefit only if your primary beneficiary is no longer living.
Contact your estate planning attorney to learn more about making your plans the best they can be. If you would like to include us in your will or other estate plans, we can help. Just contact Dennis Boyle at 202-877-3028 or firstname.lastname@example.org.
The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.