Category: Contingent Beneficiary
What Is a Contingent Beneficiary in Alberta?
Contingent Beneficiary in Alberta When people make wills in Alberta, part of the process is to name beneficiaries, i.e., those who will inherit their assets after they die. But did you know that there are different types of beneficiaries? “Contingent beneficiaries” may not be a commonly used term in estate planning but it does crop up in many wills and life insurance policies, in addition to “primary” beneficiaries. This can create confusion among family members even though the will-maker only intends to ensure that a particular asset ends up in the right place. So, what exactly is a contingent [...]
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