Legal Question in Wills and Trusts in Texas
If my husband and I die at the same time and we are each other's beneficiaries on our 401K and life insurance, but in our wills we say how we want our 401K and life insurance distributed, is that okay? Or do we have to have beneficiaries noted after each other? Reason I ask is that we want to have our administrator control the finances to underaged grandchildren.
Asked on 4/12/10, 3:49 pm
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
You should contact an attorney and discuss the possibility of having the alternate beneficiary being a trust for your grandchildren.
Answered on 4/17/10, 9:32 pm
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