Choosing a primary beneficiary - and contingent beneficiaries - is the only way to ensure that your funds are allocated according to your wishes. The per capita designation is usually the default ...

Per stirpes ensures descendants inherit an equal share of an estate, even if an heir predeceases. Per capita divides estate equally only among living heirs, excluding descendants of deceased heirs.

In a prior column, I highlighted the life and work of Yvon Chouinard, the founder of Patagonia, who gave away that multi-billion-dollar company to organizations working on the environment, including ...