Don’t Forget About Your Beneficiary Forms In Your Estate Plan!!!

• January 28, 2022

Hey everyone, Andy here!  Here is a question for you:  “If I have an IRA, a 401k, a life insurance policy, an annuity or anything of that nature with a beneficiary form, what happens to those assets if I pass away?  Would they go through the courts?”

The answer is it should not.  The reason is because they have beneficiary form!  The problem arises if you have not updated the beneficiary forms correctly to make sure that if you were to pass away the person who was named is still alive.  Otherwise, if that named beneficiary has passed away, then guess what…that asset will be going through the courts because it is now be given to that person’s “estate”.

The point is this is stuff that needs to be checked out on a consistent basis every few years.  Estate Planning is an important topic and you should be in contact with an attorney to protect (and plan) your rights in regard to this.  Please contact my office to discuss this further at (954) 755-7803 or by clicking on this link here.

All the best, Andy!