Tuesday, September 13, 2011
Updating beneficiaries
Making a list of all of our assets led to double checking for the first time who we had listed as beneficiaries on each. It turns out there were quite a lot to check: credit union and bank accounts, I-bonds, life insurance, retirement funds, and government pension accounts. All were correct as to the primary beneficiary, but we had to make some changes regarding contingent beneficiaries to make sure our sons were listed where possible. Since we have no grandchildren and our sons aren't married, it was interesting to learn that, if a contingent beneficiary for our retirement accounts was deceased, their share went to the other contingent beneficiary unless we wrote a letter specifically stating differently. We still need to talk to our sons to see if that matches their wishes. I have added reviewing beneficiaries to our annual financial review done early each January. I think this is especially important as we get older.
Subscribe to:
Post Comments (Atom)
Thriving Thursday Week 13 - Little things edition
Have you heard about the National Association of Realtors settlement agreement related to home sellers having to pay the buyer’s agents comm...
-
I was reading this blog post on Be More With Less 7 Heavy Things To Leave Behind and it really resonated. I am contemplating what I most n...
-
The second of my “cases” of canned reduced sodium soup finally showed up after I had Amazon give delivery another try. Amazon sells it at ha...
-
We had a fun time at our neighbors 4th of July BBQ and met lots of nice people. It was pretty quiet on the fireworks front here as they are ...
No comments:
Post a Comment