Beneficiaries 101: Who Will Inherit Your Estate?
By Erin Bury, CEO, Willful
One of the first steps people take when writing their Will through Willful, is choosing their beneficiaries. Naming the people or organizations who will inherit your estate is a large part of the Will-making process. So before making it official, it’s an important topic to understand and think carefully about.
Why do I need to include beneficiaries in my Will?
Appointing beneficiaries in your Will allows you to decide what happens to the property, cash, and other assets you’ve accumulated throughout your life – things that have financial and sentimental value. By creating a Will and naming beneficiaries, you’re helping loved ones navigate difficult decisions after you pass away and preventing conflict from arising down the road.