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This Form Overrides Your Will
Which estate planning document do people forget before retirement? Your beneficiary forms. And that’s a critical one. Because on specific accounts, your bene form overrides your will. There are a lot of checklists floating around with the 5 or 6 documents everyone needs before retirement. And they are all important and needed. A will. Power of attorney. Healthcare documents. Maybe a revocable trust, depending on your situation. But your 401(k), IRA, and life insurance don't follow your will. They pay whoever is named on the beneficiary form. So you can spend real time and money getting your estate plan exactly right… …and still have an old 401(k) naming someone you haven't thought about in 15 years. Or no backup beneficiary. Or your kids listed directly while they're still minors. Or an IRA beneficiary that made sense when you filled out the form but doesn't fit the plan you have today. Before you retire, don't just ask your attorney, "Do I have all the documents?" Pull everything together and ask: "Does all of this actually work together?" Your estate documents. Your retirement accounts. Your insurance. Your beneficiary forms. Life changes a lot faster than those forms do. If you're getting close to retirement and haven't looked at all of this together in a while, now's a good time. And if you want help, we do this all the time for our clients. Link in bio or send me a message. #EstatePlanning #RetirementPlanning #BeneficiaryDesignation #FinancialPlanning
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