What Happens If You Rely on Beneficiary Designations Alone to Transfer Your Assets?

June 26, 2018

Are you concerned about what will happen to your assets after you pass away? If so, you may be ahead of the curve of many people who have not even contemplated the benefits of estate planning. However, updating your beneficiary designations alone, doesn’t always mean that you are fully covered with regards to protecting how these get transferred. estate-planning-bene-forms

Assets that are transferred at death via appropriately completed beneficiary designations affect many different types of assets. All of your documents should be updated with your underlined goals in mind which means addressing not just the beneficiary designation forms but also all of your other legal documents, including your power of attorney, healthcare proxy and existing trusts.

There is no doubt that divorce represents a significant upheaval of everything you have come to know, however, an estate planning attorney can help you navigate these complexities and ensure that you have a plan to address all of the relevant issues linked to ending your marriage.

In addition to your beneficiary forms, keep on track with all of your goals for your estate planning in general, including updating your will and your trusts.

 


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Protecting Financial Information in a Digital Environment

Cybersecurity Considerations, Common Risks, and Practical Awareness In a digital environment, managing finances, taxes, investments, and estate planning often involves sharing sensitive personal and financial ...

<p>The post Protecting Financial Information in a Digital Environment first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Considering When to Create a Retirement Plan

Retirement planning can become relevant at different stages of life. Explore common circumstances and considerations that may prompt individuals to think about retirement planning. Retirement ...

<p>The post Considering When to Create a Retirement Plan first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Groundhog Day and Financial Planning: Avoiding the Cycle of “Next Year” Decisions

Groundhog Day offers a useful metaphor for tax, accounting, financial, and estate planning. Learn how repeated delays can create missed opportunities and added complexity over ...

<p>The post Groundhog Day and Financial Planning: Avoiding the Cycle of “Next Year” Decisions first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>