A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- BeneficiaryA person or entity you choose to receive assets from a will, trust, account, or insurance policy.
- Beneficiary DesignationThe named person who inherits your retirement account, which overrides your will for that account when you pass away.
- Payable-on-Death AccountA bank account with a named recipient who receives the balance directly when you die, skipping probate.
- Transfer-on-Death (TOD)A designation that passes an asset like a brokerage account or vehicle straight to a named person at death, skipping probate.
- WillA legal document that spells out who gets your property and who cares for your children after you die.
- Living TrustA legal arrangement you create while alive to hold your assets, letting them pass to heirs without going through probate.
Turn this into a brick
Knowing what Contingent Beneficiary means is knowledge — the first half. A brick gets placed when you act on it.
More in Estate Planning
Plain-English education — not personalized legal, tax, or investment advice.