mailto:jason@eckerdawllc.com How a Beneficiary Designation Works Beneficiary designations take precedence for distribution over other documents in an estate plan. The individual or entity you name as an account beneficiary will receive the money or account, usually without it passing through the probate process. A beneficiary can be any of the following: a person, such as a spouse, child, partner, family member, or friend, a trust, a charity, or your estate. It is possible to name multiple beneficiaries of the same account, allowing you to divide the account among them. For example, you could leave half the account to your spouse and the other half to a child. If you name your estate as a beneficiary, the money or account could be subject to probate. To ensure that your account money and property go where you want and how you want, talk to an estate planning attorney to put a plan in place. mailto:jason@eckerdawllc.com How a Beneficiary Designation Works Beneficiary designations take precedence for distribution over other documents in an estate plan. The individual or entity you name as an account beneficiary will receive the money or account, usually without it passing through the probate process. A beneficiary can be any of the following: a person, such as a spouse, child, partner, family member, or friend, a trust, a charity, or your estate. It is possible to name multiple beneficiaries of the same account, allowing you to divide the account among them. For example, you could leave half the account to your spouse and the other half to a child. If you name your estate as a beneficiary, the money or account could be subject to probate. To ensure that your account money and property go where you want and how you want, talk to an estate planning attorney to put a plan in place.
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