With David Hobbs
Show Notes Episode 16:
- In a will, the people who receive gifts are referred to as beneficiaries.
- Designated beneficiaries are people who are named in other documents who will receive a benefit.
- An example of ‘other documents’ is a life insurance policy, where the owner of the policy designates who will receive the benefits from the policy.
- These benefits do not pass through a will; they are not part of the estate and not included in the administration of a will.
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