Estate Planning Red Flag – You haven’t planned for the death of beneficiaries

Description

Abstract: When one plans for the disposition of his or her estate, it’s critical to understand what happens if a child or other beneficiary predeceases the person. There’s no one right way to deal with this contingency, but to avoid unintended results the estate plan should spell out, with precise language, how the estate should be divided among loved ones. This brief article details a few scenarios that can play out if vague language is used in an estate plan.