Broker Check
38 - Planning Controllables Part 10 - Ensuring Beneficiary Accuracy

38 - Planning Controllables Part 10 - Ensuring Beneficiary Accuracy

March 31, 2023

Ideal For: Everyone.

Demystifying The Strategy: Beneficiary designation determines who inherits your assets when you pass away. It's a direct and legally binding way to distribute your estate.

Who Stands To Gain? Anyone who wants to ensure their assets are distributed according to their wishes.

Why This Matters: Establishing accurate beneficiary information helps avoid confusion or unintended consequences after your demise. It ensures that your hard-earned assets reach the right individuals or entities.

Your Next Steps:

  1. Check Financial Institutions & Insurance Providers: Validate the beneficiaries of all your bank accounts, investment accounts, retirement accounts, insurance policies, and employer-provided insurance benefits.

  2. Review Legal Documents: Assess your will and trust (if you have one) to ensure beneficiary designations align with your current intentions. Make necessary amendments.

  3. Primary and Contingent Beneficiaries: It's prudent to list both primary and contingent beneficiaries wherever possible. This provides a backup plan if the primary beneficiary is unable to inherit.

We're here to help guide you through these important decisions. Contact us to review or update your beneficiary designations.