Tuesday, 10 March 2009 15:18
After working hard to build up your retirement savings through your IRA, company plans and other investment options don’t let decisions made 40 years ago impact your estate plan. The naming of a beneficiary is probably the most important component of estate planning that is overlooked the most. The second most critical component is keeping beneficiary designations up to date. In many instances the beneficiary form supersedes any will or trust document and that can cause problems or unexpected events. Keep all your beneficiary forms and retirement documents up to date and if you don’t have all the forms in one secure location, ask for the forms from each account you own. And most importantly, if any changes need to be made, make them in a timely matter regardless of your age.