Choosing your Beneficiaries: Deciding who will receive your property.

• Direct Beneficiaries: is a person or institution you name in a will, trust, or pay on death account to receive a gift of specific property.
• Alternate Beneficiaries: is a person or organization you name to receive a gift you left to direct beneficiary, if that direct benficiary dies before you do.
• It is not mandatory to name alternate benficiaries, but it is advisable to do so. Naming alternatives will eliminate the risk that you won't be able to change your will or living trust.

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