Understanding Beneficiary Designation

Beneficiary Designation

“A beneficiary designation is a legal instruction on financial accounts or insurance policies that names who receives the asset upon your death.”

Beneficiary designations are commonly used on life insurance, retirement accounts, and bank accounts.

They override instructions in a will, so keeping them updated is critical to ensure your wishes are honored.

Unsure how to coordinate your beneficiaries with your estate plan? We can help.

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