Broker Check

Beneficiaries and Estate Documents

April 08, 2022

Hopefully, everyone has filed or are about to file their 2021 Tax Returns.


Since you have recently seen all of your investment accounts, this is a good time to check your beneficiary information and Estate Documents.


Make sure all your IRAs, 401Ks and TSPs have the primary beneficiary that you want. Especially look at old IRAs or 401Ks you may have. Your life situation may have changed since these were opened. It is also wise to include contingent beneficiaries as well.


For Brokerage accounts, checking, savings or CD accounts, make sure you have a Transfer on Death (TOD) or Pass on Death (POD) on all these non-qualified accounts.


Review your Estate Documents and note who is your designated Executor for the will, and who has Power of Attorney for all your finances and Medical Power of Attorney for your Advanced Medical Directive.  If these need to be changed or updated, get it done now.


If you need any help or advice about your current situation, please do not hesitate to reach out to us.