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Two Latin words on your beneficiary form decide whether your grandchildren inherit their late parent’s share or watch it get split among the aunts and uncles
Quick ReadPer stirpes sends a deceased child's share to their own kids; per capita splits it among surviving siblings, silently disinheriting grandchildren.Beneficiary designations override your will ...
Sometimes conflicting beneficiary designations for 401(k) plan assets can be tough to sort out when a plan participant dies. It took a verdict from the U.S. Circuit Court of Appeals for the 9 th ...
Beneficiary designations are an essential component of every estate plan; however, these designations are often overlooked. As a bit of background, there is a distinction between probate assets and ...
An often-neglected area in the world of benefit plan administration is the beneficiary designation form. Many participants complete their beneficiary designations incorrectly because they don’t read ...
Failing to update beneficiary forms after major life events can lead to unintended outcomes for your assets. Wills govern assets without beneficiary designations, such as real estate, personal ...
Properly designating beneficiaries for assets that transfer on death is one of the simplest, and most commonly overlooked, methods to maximize the efficiency of a client’s estate plan. As a recent ...
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His ex-wife from 1998 collected his $500,000 401(k) because the form in a filing cabinet beat the divorce decree, the will, and his widow
Quick ReadA never-updated 401(k) beneficiary form gave a 1998 ex-wife $500,000, legally beating the divorce decree, the will, ...
Here's a question I ask every new client: when was the last time you looked at the beneficiary form on your life insurance? The usual answer is a long pause followed by something like "when I started ...
Outdated beneficiary designations can disrupt your estate plan. Learn which accounts to review, when to update beneficiaries ...
An employer’s retirement plan documents did not incorporate beneficiary designation forms in its language or appendices, so the forms did not govern the award of benefits, a court ruled. A federal ...
A May 2017 decision of the Federal Court for the Middle District of Florida should provide an impetus for employers with employer-sponsored retirement plans to reevaluate their beneficiary designation ...
POD and TOD designations can simplify estate transfers, but they may create costly problems when an estate gets complicated.
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