Reviewing and Updating Your Beneficiary Designations

Beneficiary designations are among the most over-looked and neglected aspects of a creating a well-rounded estate plan. When was the last time you checked your beneficiary designations on your retirement accounts? Or on your life insurance policies? If it’s been a while, you may be surprised when you review these designations. Have you recently married, divorced, or had children? Have these individuals been properly included (or excluded) as the case may be? Many assets, such as 401(k)s, IRAs, 403(b)s, life insurance policies, and even some bank accounts, allow for the naming of beneficiaries to whom these assets will pass in the event of the owner’s death. Ensuring that all of your assets pass the way you want after your death is of paramount importance for estate planning attorneys and our clients. In this podcast, attorney Ryan Gardner explains how he helps his clients from a holistic standpoint determine how assets are titled, how beneficiaries are designated, and ensures that their assets are provided for in their estate plan, which includes more than just a Will or a Trust. This podcast answers some common questions and provides perspective on how to accomplish your goals with respect to reviewing and updating beneficiary designations.