Alternate Beneficiary, Assets, Beneficiaries, Designated Beneficiaries, Divorce, estate, Estate Plan, Estate Size, Life Circumstances, Marital Status, Married With Children, Primary Beneficiary, Residuary Beneficiaries, Single Never Married, Unintended Consequences, Will
Another important step in building your estate plan is choosing your beneficiaries. As mentioned in the article How Estate Size Will Influence Your Estate Plan, the estate size will influence the size of your beneficiary pool. Accordingly, along with estate size, here are a few more basic considerations for choosing your beneficiaries:
- Consider your marital status.
- Designated beneficiaries on assets.
- Using additional types of beneficiaries along with the primary beneficiary.
Although there are many intricate considerations concerning beneficiaries, these basic considerations are more typical of a common estate.