What is a ‘contingent’ beneficiary
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What is a ‘contingent’ beneficiary
This is regarding a Will.
Asked on March 24, 2018 under Estate Planning, New York
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
A contingent beneficiary is the person (or entity) who receives a bequest under the terms of a Will if the primary beneficiary (the first person/entity) listed is unable to do so (e.g. the primary dies). Basically, a contingent beneficiary is a back-up so is next in line to receive a distribution from an estate.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.