Although avoiding probate is preferable in common estates, there is still a need to list beneficiaries in your will. As mentioned in the article Tips to Avoid Probate in your Estate Plan, not all states allow designated beneficiaries for certain types of property; therefore, certain types of property must pass through a will to a listed beneficiary. Furthermore, there is the need to plan for your residuary estate regardless of your estate planning strategy. Accordingly, whether your will serves as a backup will to a living trust or serves as the centerpiece in your estate plan, there are significant reasons to list beneficiaries in your will.

Reasons to List Beneficiaries in Your Will

Usually, passing property to beneficiaries through the will requires probate. However, there are reasons to risk probate and list beneficiaries …show more content…
Also, the residuary estate includes all specific gifts that failed or lapsed. To plan your residuary estate in the will, you would list a residuary beneficiary to inherit all the remaining property. Otherwise, the remaining property would default to the estate. Typically, sound estate plans will have a residuary clause in the will listing a residuary beneficiary.
2) Guardian for minor children - Although guardians aren’t really beneficiaries, they could be handling the inheritance of a minor child. Appointing guardians is possible only by the will.
3) Property that can’t have designated beneficiaries – In some states, property such as vehicles and personal accounts don’t allow ways to designate beneficiaries for the property. As a result, the property must pass through the will to listed beneficiaries.
4) Heirlooms and specific gifts of personal property – If you have heirlooms or personal property you want to give to a specific person, then list that person as a