Does a 2% beneficiary inherit 100% if the 98% beneficiary dies in a car accident? Asking for a friend.

If the account owner and the 98% beneficiary both perish simultaneously, the 2% beneficiary would indeed inherit the full 100% of the account. This scenario hinges on the specifics of the beneficiary designations and the terms set by the account owner. Understanding these nuances is crucial for planning and ensuring assets are distributed as intended, especially in tragic circumstances like a fatal car accident. This knowledge can have significant implications for family dynamics and financial planning.