When you’re deciding to whom to leave assets, most people choose their children or other descendants. However, you also need to decide on the “contingent remainder” beneficiary. In other words, who should get your assets if all your other beneficiaries are gone. My friend and colleague Steve Hartnett, an estate planning expert knows this area. Read on to learn more about this often-confusing concept.
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
Latest posts by Timothy P. Murphy (see all)
- Taxation of Nongrantor Trusts - August 3, 2021
- Advantages of Using a “Grantor Trust” in Planning - August 1, 2021
- Beneficiary Designations and the SECURE Act: Prior Designations - July 17, 2021
