If you own life insurance, chances are you have designated a primary beneficiary and a contingent beneficiary. If your primary beneficiary is living at your death, she will inherit the insurance proceeds. If your primary beneficiary fails to survive you, your contingent beneficiary will inherit. What happens if both your primary and contingent beneficiaries fail to survive you? This could be trouble. If your beneficiaries fail to survive, your policy would become part of your probate estate. Why is this a problem aside from the fact that the proceeds may be going to someone other than whom you intended? In
Estate Planning Lessons from John B.
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