I talked with my mom tonight regarding her finances. She said she has designated her primary beneficiaries with a 80/10/10 split and a secondary beneficiary of 100%. The question came up with what would happen if, say, two of the primary beneficiaries died simultaneously. Let's say 80 and 10 died. Would the remaining 10% beneficiary receive 100%, or would it be 10% to that beneficiary with the secondary beneficiary receiving 90%?
Likewise, if the secondary beneficiary was a dependent of the 80% primary, and the 80% guy died, would the secondary then get 80%, while the two primaries each got 10%?