There are a few types of beneficiaries that are common in most estate plans. When planning an estate, you can list anyone you want as a beneficiary. However, keep in mind that beneficiaries can come with some complexities. For instance, a minor listed as a beneficiary will require adding guardians to the estate plan. In addition, if you name an elderly person as a beneficiary, naming an alternate beneficiary or two may be wise. So, certain types of beneficiaries can present some complexities by expanding the estate plan.

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