Common Beneficiary Mistakes To Avoid

When it comes to retirement planning, one critical aspect that’s often overlooked is the designation of beneficiaries. It's not just about who you want to inherit your assets; it's about making sure that your wishes are carried out smoothly and without legal complications. Let’s talk about some of the common mistakes we see people make when it comes to the beneficiaries of their accounts…

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When it comes to retirement planning, one critical aspect that’s often overlooked is the designation of beneficiaries. It’s not just about who you want to inherit your assets; it’s about making sure that your wishes are carried out smoothly and without legal complications. Let’s talk about some of the common mistakes we see people make when it comes to the beneficiaries of their accounts…

Join us to learn why naming minors, failing to coordinate with your will, and choosing your estate as a beneficiary can lead to probate nightmares and unintended complications. Throughout the conversation, Mark will share some real-life cautionary stories and how beneficiary designations are not a set-it-and-forget-it affair. Tune in to avoid these pitfalls and keep your retirement plan on track!

Here’s some of what we discuss in this episode:

  • Naming minors as beneficiaries
  • Not coordinating your beneficiary designations and your will
  • Not naming alternative or successor beneficiaries
  • Naming your estate as a beneficiary
  • Making errors on the application

 

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