Something simple that everyone should do is to check and update your beneficiary designations on your life insurance, IRA’s, annuities, and brokerage accounts.
Though many people realize the need for good “paperwork” (i.e. Power of Attorney, Will, Trusts, etc.), most forget that some assets are not controlled by a person’s Will but rather by their beneficiary designations.
Therefore, take a few minutes today to verify that your beneficiaries are properly named and that they know where your accounts and policies are located.
Remember: Life Insurance, Annuities, IRAs, and 401ks are normally controlled by beneficiary designations not your will.