Broker Check

Make Sure Your Beneficiaries Are Up to Date

April 18, 2024

When you think about the various accounts you possess (insurance, investing, retirement, savings, 529, etc.), are you confident your beneficiary designations on all of those accounts are accurate? Unless you’ve reviewed them recently, you may have outdated and/or conflicting beneficiaries. If that’s the case, were something to happen to you, your estate could be subject to review by the courts, and your loved ones could lose a substantial portion of all you worked to build.

 That sounds terrible, right? But you can do something to fix it. This booklet from Franklin Templeton, What You Need to Know About Beneficiary Designations, offers in-depth information about different types of beneficiary designations, along with worksheets to help you update and track the decisions you’ve made regarding your accounts and your estate. Once filled out, it provides an “all in one place” accounting of your various designations, making it much easier to maintain.

Download the booklet and take a look. Then, you can work through the exercises on your own, or we can do them together. The important thing is that it gets done. If you need help, let’s connect!