Sentences with phrase «making beneficiary designations»

It's a common scenario for people to make beneficiary designations first and draft other estate - planning documents later, when their families have grown.

contains general information on mental capacity and the law, including the common - law tests of capacity to: make a will, make a beneficiary designation, nominate a committee, and retain legal counsel, among others.

Beneficiary, Irrevocable A beneficiary whose interest can not be revoked without that individual's written consent, usually because the policyowner has made the beneficiary designation without retaining the right to revoke or change the designation.

You can also make the beneficiary designation irrevocable.

Not exact matches

Avoid this problem by making sure your retirement plan beneficiaries and the designations listed in your will are in agreement.

Therefore, if your ex-spouse gave up any claim to retirement assets in a divorce, make sure your IRA beneficiary designation form is updated to reflect that change.

If you want that child's share to go to his or her heirs, then you must make that intent clear in your beneficiary designation.

It is important to think through beneficiary designations to make sure the insurance company fulfills your wishes.

It is important to make sure that you review your life insurance beneficiary designation after a divorce or remarriage to ensure that it accurately reflects your current situation.

Not only is it important to make sure you have adequate coverage, but also to make sure you have your beneficiary designation updated if needed.

Organize that information and put it in a beneficiary folder; make sure to include a hard copy of each beneficiary designation.

Review all beneficiary designations at least every two years to make sure they are up - to - date; when you file a new form, include a copy in your beneficiary folder.

It isn't possible to make one «blanket» beneficiary designation that will apply to all your financial products; they must be made asset by asset.

Example: If you have an infirm financially dependent child or grandchild, you should consider if any changes need to be made, either in your will or by way of beneficiary designations, to accommodate this new rule.

Review your beneficiary designation as new situations arise in order to make sure your choice is still appropriate.

This can also happen with employer - provided plans: If your employer or if your company has switched 401 (k) providers, check to make sure your beneficiary designations have ported over along with your contribution rate and other choices you've made.

It makes account management much simpler — just one statement, just one beneficiary designation.

If you've taken additional steps on your estate plan beyond your beneficiary designations — for example, you've drafted wills and trusts — make sure your beneficiary designations sync up with the other aspects of your plan.

This is why it is critical to make copies of your beneficiary designation form, as well as to check up with your IRA custodian to ensure that the proper information is applied to the account.

Beneficiary designations can only be made by in your will (most common) or marriage contract (less common).

Leaving a gift to Pet Alliance in your will or trust, by beneficiary designation, or another form of planned gift can make a lasting difference to our work.

Given her incompetency due to Alzheimer's disease, it is unlikely that she will ever make another will, or be in a legal position to change her designation of Alan as a beneficiary.

Make certain you understand the proper procedures for changing life insurance beneficiaries before attempting to change beneficiary life insurance designations.

Reviewing your policy every couple of years is a good idea anyway since you might want to make changes to your beneficiary designations anyway.

Review all beneficiary designations at least every two years to make sure they are up - to - date; when you file a new form, include a copy in your beneficiary folder.

Beneficiary designations generally can't be made in a will; they must be made in writing on a form acceptable to the financial company.

It isn't possible to make one «blanket» beneficiary designation that will apply to all your financial products; they must be made asset by asset.

It is important to think through beneficiary designations to make sure the insurance company fulfills your wishes.

It includes children of this marriage who are born after the beneficiary designation is made but does not include children born after the insured dies.

Review your beneficiary designation as new situations arise in order to make sure your choice is still appropriate.

Unless one or more of your beneficiaries is irrevocable, you typically need only to fill out a beneficiary designation form to make a change.

Make sure your beneficiary designations not only reflect your intentions but also meet the requirements to be effective.

Life insurance proceeds are payable according to the beneficiary designation made by the insured and that is a part of the insurance policy.

Or you forget to follow up with your spouse to make sure that s / he changed his / her beneficiary designations.

These include reading the decree for mistakes, obtaining certified copies of the divorce order, making new deed for real estate, transferring the titles of cars, and updating insurance coverage, amending beneficiary designations and W - 4 withholding and pension plans, rewriting wills and trusts, confirming the separation of bank and credit accounts, and following through on name changes.