Naming a contingent beneficiary directly on the beneficiary form is a good practice and an integral part of most estate planning. It becomes vital if the first beneficiary chooses to execute a ...

He named his wife, Joyce Hunter, as primary beneficiary but didn't name a contingent beneficiary. After she died in 2004, he didn't update his plan beneficiary form. Mr. Hunter died in 2005.

A beneficiary designation form is a weighty estate-planning mechanism, and its completion should be treated with the same degree of care and attention as is given to preparation of wills and trust ...

Q: On my 401(k) enrollment form I'm asked to name beneficiaries. What is the difference between a primary and contingent beneficiary? How should I list my children? Nobody likes thinking of their ...

If you don’t designate a beneficiary, or your primary and contingent beneficiaries die before you, your surviving spouse will typically inherit your 401 (k) balance.

Beneficiary designations are among the most important legacy decisions you will make. A variety of financial accounts, including retirement plans and life insurance policies, allow you to designate ...

Q. What happens if a non-spouse beneficiary inherits an IRA account but dies before the money is put in her name. There were no contingent beneficiaries. Which estate would get the IRA ...

It is also important to specify “ contingent” beneficiaries. So, for example, if you name your surviving spouse as the beneficiary of 50% of your IRA, you should specify who would receive the ...

In its second opinion, the Michigan Court of Appeals determined that Cathy, as contingent beneficiary, had standing pursuant to Section 603 of the Uniform Trust Code (UTC) as enacted in Michigan.

Also, be sure your beneficiary designations are kept in a safe place. Julie Jason, JD, LLM, a personal portfolio manager (Jackson, Grant of Stamford, Conn.) and author, welcomes your questions ...