Estate Planning
Primary Beneficiary
Your primary beneficiary is your first choice — the person or organization you most want to receive a specific asset when you die. You can name more than one and specify percentages. If the primary beneficiary cannot receive the asset, it goes to your contingent (backup) beneficiary.
In short
Your primary beneficiary is your first choice for who receives a specific asset. Name a contingent (backup) beneficiary too — in case your first choice cannot receive it.
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