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I'm single and have no children of my own. I'm contemplating leaving a little bit of money that I currently have set aside to my cousins kids (3 of them). I'm talking about less than 20,000 split between a 401k, Roth IRA and a CD.

The kids are all under the age of 5. Should I just list the 3 kids as beneficiaries with a 33.333% split between them on each of the products I have?

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Get a will completed ASAP. It sounds like you are not doing a standard inheritance, so you will want to have it down in writing.

If money is an issue, I would research were you can get a will done for cheap, but I would avoid doing a "fill out the form yourself" kind of a thing given that this is non-standard.

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  • Best use I've seen for the DIY forms is as a starting point to capture all the most essential info and your ideas on what you want to happen ... Then take that to a real lawyer for review. That reduces the amount of expensive lawyer time you need to pay for.
    – keshlam
    Apr 13, 2016 at 23:45
  • Unless the estate is a beneficiary, can a will direct the disposition of 401ks and Roth IRA? I understood these stay out of probate (part and parcel of the ownership in trust feature that protects them from bankruptcy)
    – user662852
    Apr 14, 2016 at 11:22

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