September 10, 2020 •
Estate Planning ![]()
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
Read MoreAugust 7, 2020 •
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Whenever you open a financial account, you’re almost always asked to name a beneficiary. Simply stated, a beneficiary of the account is someone who is entitled to the benefits of the account, typically, on the death of the account holder. If you’ve purchased life insurance, for example, you name a beneficiary who receives the benefits of the policy when you pass.
Read MoreJuly 13, 2020 •
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You might not be able to spend all the money in your 401(k) plan before you die. If that happens, your retirement savings will pass to the person you name as the beneficiary of the account. The information on your 401(k) beneficiary form typically supersedes what is written in your will. Therefore, it is important to keep this form up to date for all your retirement and investment accounts.
Read MoreJuly 8, 2020 •
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More and more often, estate beneficiaries are retaining their own attorneys to make sure that the executor properly administers the estate.
Read MoreJuly 3, 2020 •
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There might be a time in your life when someone you know pulls you aside at a family gathering and says that you’re the designated beneficiary of their life insurance policy.
Read MoreJune 8, 2020 •
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A trust is often only as good the trustee in charge of it. Read on, as we examine the important role of the trustee and discover how to make sure yours is acting correctly, especially with complex instruments like insurance.
Read MoreJune 1, 2020 •
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In most instances, a will is required to go through probate to prove its validity. Investopedia’s recent article entitled “When the Beneficiaries of a Will Are Notified” explains that there are exceptions to the requirement for probate, if the assets of the diseased are below a set dollar amount. This dollar amount depends on state…
Read MoreMay 29, 2020 •
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Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset, if the account owner dies. However, these forms can create confusion, unintended bequests and family turmoil, if not adequately monitored.
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When is the last time you updated your will? Could your beneficiaries have changed? If you have a trust, did you actually fund it? Is your plan ready for the new SECURE Act? Here are five mistakes you don't want to make.
Read MoreApril 29, 2020 •
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Estate planning offers tools to establish and maintain effective control over cash, investments and real estate assets during a person's lifetime and upon death. While wills and beneficiary designations work well to ensure that an estate plan meets the unique needs of the individual establishing the plan, each has its limits.
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