by Wealth Strategies Partners

Paul Allen on the Importance of Updating Your Beneficiaries

As you organize and plan for a successful year ahead, it’s a great time to sit down with our team and review your beneficiaries on all documents and accounts, including trusts and life insurance policies. Marriages, divorces, births, deaths and other major life events can all warrant changes. Mistakes in these designations can lead to irreversible consequences such as an ex-spouse receiving life insurance benefits over a current spouse if the ex remains the beneficiary.

Save time, minimize stress and avoid unnecessary conflict by revisiting beneficiary designations. Note that beneficiary designations on IRAs and retirement plans supersede what’s stated in a will or trust, so it’s critical that they are accurate. Contact us today and let our team help ensure your financial house is in order!

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