Episode 297 – The Hidden Estate Planning Trap: Why You Need an Annual Beneficiary Audit
Your will may not control where your money goes when you die. In fact, a forgotten beneficiary form could override your estate plan entirely.
Why Beneficiary Designations Can Override Your Will
It’s a common misconception that your will controls all of your assets. In reality, accounts like 401(k)s, IRAs, and life insurance policies are governed by beneficiary designations – not your will.
Financial Planning Checklist: What to Consider When Reviewing Beneficiaries
When was the last time you reviewed your beneficiaries? If it’s been a while, now is the perfect time! Outdated designations could mean your assets go to an ex-spouse, a deceased relative, or someone you never intended. Avoid costly mistakes and ensure your estate plan is up to date with this checklist.