Quantis Wealth Management

For many financial accounts, beneficiary designations determine who receives the assets when you pass away.

This often includes retirement accounts, life insurance policies, annuities, and transfer-on-death accounts.

Because these instructions can override provisions in a Will or Trust, outdated beneficiary designations may create unintended results.

Major life events such as marriage, divorce, the birth of a child, the death of a loved one, retirement, or significant financial changes can all be reasons to review them.

Beneficiary designations should also be reviewed whenever estate planning documents are updated to help ensure everything remains coordinated.

While reviewing beneficiaries is often a relatively simple task, it can play an important role in helping your estate plan function as intended.

Coordinating these reviews alongside your estate planning attorney and financial advisor can help ensure your beneficiary designations, estate documents, and financial accounts continue working together toward the same objectives.