If you think your estate planning is done once you’ve gone to the trouble of making a will, guess again. The designations on beneficiary designated accounts are integral and any assets for which you have appointed a beneficiary (including, but not limited to life insurance policies and retirement accounts) will not be affected by your Will unless you change those designations to reflect otherwise.
Here’s an informative article from the Wall Street Journal regarding the importance of regularly reviewing your beneficiary designations on applicable accounts.
Review designations regularly and certainly after any big event, such as a marriage, divorce, birth or death of a loved one. These designations need to be coordinated with your estate plan. We can help.
