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how should I name my beneficiaries
Old 08-06-2014, 04:30 PM   #1
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how should I name my beneficiaries

for most of my taxable and retirement accounts, I've setup my beneficiaries as follow:

primary: wife 100%
secondary: kids 90%, mom 5%, dad 5%.

my thoughts are should anything happen to the 4 of us, everything goes to my parents. Is my setup above correct? Since I have my beneficiaries setup, do I still need a will?
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Old 08-06-2014, 04:49 PM   #2
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Beneficiaries are for 401k, 403b, IRA, life insurance, etc type accounts. Will covers your other assets. So a simple will is still advised.
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Old 08-06-2014, 04:53 PM   #3
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Quote:
Originally Posted by ER_Hopeful View Post
Since I have my beneficiaries setup, do I still need a will?
How will the guardian of your children be decided without a will?

-gauss
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