Return to the Basics

Sep 14, 2022 · 55m 59s

Description

There is so much going on in life let alone the markets and investing. What really matters and can help me move forward today? Let's focus and get down to...

There is so much going on in life let alone the markets and investing. What really matters and can help me move forward today? Let's focus and get down to basics.

Does a beneficiary designation override a will?
Yes. The beneficiary named on an account — a 401(k), IRA, life insurance policy, annuity, or transfer-on-death registration — supersedes whatever your will says. The custodian holding the asset pays the person on the beneficiary form, and absent a court order they will not read your will. That's why estate readiness means checking all four buckets: assets controlled by your will, by beneficiary designations, by joint ownership, and by trusts — and reviewing them after every major life event: marriage, divorce, birth, death, remarriage, inheritance, or retirement.

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