If the primary beneficiaries are no longer alive, assets will typically pass to the contingent beneficiaries named in your Will or estate plan.

But beyond deciding who should receive your assets, it's equally important to consider how they should receive them. Ask yourself:

1. Will your beneficiaries be able to manage a large lump sum responsibly?
2. Are they likely to invest it wisely, or spend it impulsively on non-essential items?
3. Would it be more beneficial to structure the inheritance in staggered distributions over time.