A beneficiary is someone who gets your assets when you pass away. For example, if you want to leave your children your assets when you pass away, then your children are considered your “beneficiaries”.

This term is used in your Trust or Will and it means that if any of your beneficiaries pass away before you do, the deceased beneficiary’s share will go to their children, if any.

A beneficiary is someone who gets your assets when you pass away. For example, if you want to leave your children your assets when you pass away, then your children are considered your “beneficiaries”.

This means when you are deceased, and your spouse is deceased if you are married, all of your assets will be divided equally among your children by your successor trustee. This distribution will also include any children born after the date you sign your trust. 

If you select this option, your assets will be divided equally among your children and others that you select.

This gives you the ability to select other individuals along with your children to receive your assets and set the percentages for each beneficiary.

If you select this option, you will have the option to select what percentage of your assets should go to each of your children.

This will leave any children you may have out of the distribution and allow you to name other individuals of your choosing to receive your assets. Please note, if you are not leaving your children any of your assets, you should meet with an attorney to ensure you do this in accordance with current law.