Nomination and joint holding are two of the simplest ways of identifying beneficiaries for investments. As far as possible, you need make sure that the beneficiary is someone whose needs will be taken care of by the specific investment in the future. It would be good if you maintain a list of your investments and kept track of the nominations you have made. Informing the nominees that they have been made beneficiaries is also a good exercise since the purpose of making smooth transition will otherwise be lost.