Once the Will is read to the beneficiaries, the Executor will appoint a lawyer to apply for Probate. The lawyer will advise whether the application is to be made where the Executor resides or where the Testator resided. Thereafter, the Executor with the as...
Generally, naming both a primary and a contingent beneficiary (or multiple beneficiaries) is a good practice. If you have an IRA, for example, and name your spouse as primary beneficiary but are both killed in a car accident together, then who would you want to receive that account? The ...