![What Is A Beneficiary? What Is The Difference Between Primary And Contingent Beneficiary?]({"bg": "//theme.zdassets.com/theme_assets/10087603/e106cc8a79a6a41c781c71d999cffaa33b481de7.jpg"})
![What Is A Beneficiary? What Is The Difference Between Primary And Contingent Beneficiary?]({"bg": "//theme.zdassets.com/theme_assets/10087603/d38d9cc5a4fcb160800cb7a8f0e0cb60aaa36d2e.jpg"})
Beneficiaries inherit your account upon your death. There are two types of beneficiaries: Primary and Contingent.
- Primary beneficiaries are first in line to inherit your assets according to the percentages you assign to them
- Contingent beneficiaries inherit the percentage of your assets assigned to them only if none of the primary beneficiaries survive you or disclaim your assets
Having at least one beneficiary is required to establish an account with us. Additionally, you may not name yourself as a beneficiary.
For more information, feel free to visit the IRS website.
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