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by BECU Financial Advisor,posted Apr 1 2011 10:54AM
Do you think that just because you have an updated will that when you pass away your wishes will be carried out? For your retirement, insurance policy, and other investment accounts it is actually your beneficiary designations that determine what happens to your money.
When was the last time you reviewed the beneficiaries on your retirement, insurance policy and other investment accounts?
Life events can change everything. If you were married, divorced, had a child, or a death in the family since you opened your account, then you definitely need to consider updating your beneficiary designations.
Take the time now to make sure that the parties you designated as beneficiaries on your accounts are who you want to receive your money when you pass away.