One of the most damaging mistakes that people make in estate planning is not updating beneficiary designations or having improper designations.  As symbolized in the images above, the majority of your estate can be easily lost in the wind by a simple mistake or oversight, and your will does NOT control this.

Why is this so critical?  

Beneficiary designations are not controlled by your will or your prenuptial agreement when it comes to some of your greatest financial assets. 

Your benefit plans, your IRA's, your life insurance, your annuities and your pension are all controlled by beneficiary designation forms often completed when the programs and investments are initiated. 

If you designate a trust as beneficiary, in many cases you may lose the IRA stretch provisions that you and your heirs may be counting on to maximize your estate assets and to prevent paying unnecessary taxes.

Who needs a beneficiary review? 

Anyone who has been recently married, changed jobs, had a divorce, experienced the loss of a spouse, or had any other major life change needs to make certain this is handled and handled correctly.

Don't allow the possibility of a beneficiary mistake to harm your loved ones.  The penalties are huge and easily preventable.

Make sure you have contingency beneficiaries designated on all critical investments, just in case something would happen to your primary beneficiary.

Schedule a beneficiary review today.  Knowing that everything is correctly designated is well worth it.»»