Importance of Beneficiary Designations

POSTED ON FEBRUARY 8, 2012 BY NATALIE

When we experience big life changes like marriage, birth of a child, divorce, or loss of a loved one, one of the last things we may think about is changing the beneficiary of our life insurance or retirement accounts.  Nonetheless, this is a critical item to keep in mind.  This article is a good reminder to all to check the beneficiary designations on your IRA and other accounts:  click here.  It is very important to ensure that your listed beneficiary is indeed who you want to inherit the funds.  

Please consult with an attorney before changing a beneficiary designation during a divorce, however.  Some courts may have a standing order that prohibits changing beneficiaries during the divorce. 

Posted in Articles | Tagged: Marital & Family, Trusts & Estates