Is it okay to list just one of our children as the beneficiary of our investment accounts and let him divide it up amongst our other children after we pass away?

Answer: Typically not. You should list all of your beneficiaries individually unless they are minors or need help managing money. In that case, you may want to consult with an attorney to set up a trust inside of your WILL which will have instructions in it as to how the beneficiaries will receive their inheritance. Listing your children individually allows them to take advantage of potential tax benefits and doesn’t cause an undue burden on any one of your children to make sure that their siblings receive their inheritance.