Ocean City, NJ asked in Estate Planning for New Jersey

Q: I live by myself. Who do I put down as beneficiary on my life insurance and bank savings account?

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2 Lawyer Answers
Nina Whitehurst
PREMIUM
Nina Whitehurst
Answered
  • Estate Planning Lawyer
  • Crossville, TN

A: Nobody can answer this question for you. This is entirely for you to decide.

Maybe think of who you consider to be your favorite person in the world, the one you would want to receive these benefits if you were to suffer an untimely death or, if there is no such person, a charity that aligns with your personal values.

H. Scott Aalsberg Esq.
H. Scott Aalsberg Esq.
Answered
  • East Brunswick, NJ
  • Licensed in New Jersey

A: The beneficiary is the person or organization you want to get your assets. For example if you liked me you would put your beneficiary as me: H. Scott Aalsberg then I would get the proceeds of your life insurance when you die. I hope this helps.

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