Part C - do you need to have contingent beneficiaries?
Part D - what if a minor is a beneficiary?
First, you can name a minor as a beneficiary. However, at the time of your death, if any of the named beneficiaries are minors, a guardian must hold and manage the money until the beneficiary reaches the age of 18 (or 21 depending on state law).
Part E - what if you don't name a beneficiary?
Part D - what if a minor is a beneficiary?
First, you can name a minor as a beneficiary. However, at the time of your death, if any of the named beneficiaries are minors, a guardian must hold and manage the money until the beneficiary reaches the age of 18 (or 21 depending on state law).
Part E - what if you don't name a beneficiary?
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