Written by attorney Kera Murphy Reed

IRA Beneficiary Designations

Some of the most costly estate planning mistakes I see involve retirement accounts. The mistakes are usually made in the beneficiary designation forms. These forms are typically completed when the account is opened. It is advisable to periodically check the designation on file, to make sure it’s still what you intend. If you have had a major change in your family situation, for example, if you or a family member got married or divorced; a loved one has passed away; or have had children or grandchildren be sure to make sure your beneficiary designation forms are up to date.

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