What Are Non-Traditional Beneficiaries?

Hi there. My name is Bridget Mackay. I am an attorney in Petaluma, California. I practice in the area of the estate planning and elder law. And I just want to talk today about planning your estate when you don’t have traditional beneficiaries. Maybe when you don’t have children or you don’t have a spouse. Some people out there do have traditional beneficiaries like a spouse or children. However, sometimes the most important people in someone’s life, aren’t those you are married or related to. If you are an unmarried domestic partner, so you’ve been living with someone for a long time and you are neither married nor registered domestic partners if you’re 65 or older. Or nieces and nephews and also friends.

Traditional strategies for transferring your hard-earned wealth may not work for you. The thoughts of how to put a trust together for folks who don’t have traditional beneficiaries, may be overwhelming and you don’t know where to start. A qualified estate planning attorney can help you set up a plan that includes these loved ones, along with contingent plans, you may have if they don’t survive you. So be rest assured your planning can get addressed. Don’t procrastinate and leave those loved ones out unprotected just because you weren’t sure what to do. I come across this all the time and oftentimes folks with those non-traditional beneficiaries struggle around how to make plan and often come in thinking that they could never do it. So if there are people in your life you want to leave your hard-earned wealth to and make their lives better, do do a plan. Otherwise, it just goes out to, however you’re related to. It could be your first cousin, or someone that you don’t know. And you will leave your loved ones unprotected.

Recent Posts

What Our Clients Say

Contact Us