In Part 1 of this post I discussed: 1) beneficiary designations in general, 2) order of precedence between beneficiary designations and a Will, 3) primary and secondary designations and 4) special consideration when a minor might be a beneficiary. In this post, I’ll address a situation when it is not a good idea to use […]
Thinking About Beneficiary Designations (Part 2) Read More »
Certain assets often have beneficiary designations: life insurance, annuities (which are life insurance products), 401(k)s, IRAs and other retirement accounts. Setting up your beneficiary designations the right way takes thoughtful planning.
First, you need to know that beneficiary designations take precedence over a Last Will and Testament, not the other way around.
Thinking About Beneficiary Designations (Part 1) Read More »
So, you have a house, a bank account, a 401(k) and a car…then you die. What happens to those things? Well—it depends. Is there a joint owner? A named beneficiary? A Will? A Trust? Any debts or creditors lurking out there? We’ve got to explore all of those things to decide what happens to your stuff at death.
What Happens to My Stuff When I Die? Read More »
