Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, December 20, 2013

Updating Your Beneficiary Designations


It’s a good idea to routinely review beneficiary designations for life insurance policies, employer-sponsored retirement plans, IRAs, bank accounts, mutual funds, annuities, brokerage accounts, and 529 college savings plans.  Here are six reasons why you may need to update:

  1. You have divorced or remarried.
  2. You rolled over your retirement plan when changing jobs.
  3. Your primary beneficiary passed away.
  4. Your financial institution changed ownership.
  5. You had a child or a grandchild.
  6. Your beneficiary became disabled.

See Harper Willis, The Big Estate-Planning Goof You May Be Making, Forbes, Dec. 16, 2013.


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