Planning your estate is not just about ensuring that your assets go to your intended beneficiaries, but also about preparing for unexpected situations.
What are backup beneficiaries?
While you may have clear intentions for your primary beneficiaries in your Will, life is unpredictable. In the event that your primary beneficiaries pass away before you, they become unable to receive their inheritance. This is where backup beneficiaries step in, ensuring that your estate is distributed according to your wishes.
For example, if you appoint your partner as your primary beneficiary i.e the person who will inherit your estate, and you both pass away together, you can select your children as backups to inherit your estate instead.
How does nominating backup beneficiaries work with Safewill?
For each primary beneficiary listed in your Will, you can nominate a single or multiple backup beneficiaries to take their share. You can select from our suggested options (their children, or split between the remaining beneficiaries) or can choose to name specific people or charities.