It can be an individual, a charity or a trust that you've set up. You can have one beneficiary for an account or other asset, or divide it among several. Beneficiaries are different from heirs ...

A beneficiary is someone who receives a financial asset that was once owned by someone else. Choosing beneficiaries helps ...

A better option than naming your minor children directly as beneficiaries is to establish a trust account as the 401(k)'s beneficiary and your children as the beneficiaries of the trust.

I want to have a plan in place to make sure my daughter is taken care of if I die, so I'm making setting up a trust a ...

known as a beneficiary. Once assets have been moved under the trust’s name, a trust account can be established at a bank or financial institution to hold the funds until it is time to disburse ...

Christy Bieber has a JD from UCLA School of Law and began her career as a college instructor and textbook author. She has been writing full time for over a decade with a focus on making financial ...

Opinions expressed by Forbes Contributors are their own. Matthew F. Erskine is a trusts and estates attorney. The FDIC has issued final regulations that, as of April 1, 2024, will change how bank ...

These have named beneficiaries, with regulations determining ... whether one or both account holders are deceased, and whether the account is a trust account and the trustee or grantor is deceased.

Your investment account’s transfer process after death depends on how you’ve set it up – from quick transfers with proper ...

Like retirement accounts, however, you can name the trust as the primary or secondary beneficiary. Active financial accounts. It is not advisable to transfer accounts you use to actively pay your ...