The following is an important reminder for every other year or so – more often if there are new people in your life:
Whoever, whatever you want to call them: Beneficiaries, “Bennys,” Heirs… make sure to check who is listed as Beneficiary or Beneficiaries on your retirement accounts, insurance policies, IRAs, trusts or in your Will (if you have a Will).*
Inevitably, time flies. Sadly, loved ones pass away; important loved ones may, well, change. (Think: divorce, relationship changes). Happily, new beneficiaries, or heirs, are born or enter the picture! In the busy nature of life, often the beneficiaries currently on record are not accurate or have not been updated in years.
