Hero image showing a calculator and pen

Beneficiary Designations


Part of an overall estate plan is naming Primary and Contingent Beneficiaries and Transfer-on-Death (TOD) or Payable-on-Death (POD) Designations on various accounts such as:


2-Bank Accounts-Checking & Savings, CD's. Savings Bonds, etc.

3-Brokerage or Investment Accounts (Non-Retirement and Retirement)


5-Life Insurance

6-Pension Plans

7-Other assets and accounts

Some Things To Think About!

If you fail to name beneficiaries, these assets may pass according to your will, or according to state intestacy law, if you have no will. Is this what you want?

What if your spouse passes away?

What if you remarry?

What if there are children in a blended family situation?

What if you have a special needs child or a child who is not financiall responsible?

What if your estate has contratictory provisions (for example, you name one beneficiary on an IRA and your will leaves the same IRA to a different beneficiary)?

Joint ownership between married couples: What would happen to the asset(s) if both spouses died at the same time? YES, IT DOES HAPPEN.

What if you own real estate in different states? 

You get the picture-estate planning is about being proactive and giving careful thought to your personal wishes and desires.

Review Your Estate Plan Documents & Beneficiary Designations Regularly AND Keep Copies Of All Legal Documents

It is important to periodically review your estate planning documents (especially after any major life-changing events) and make any changes necessary to comply with various federal and state laws and your personal wishes.

Always keep copies of your records so you and those who may need them can readily locate them.

ALWAYS Seek Competent Professional Advice From A Qualified Estate Planning Attorney

NOTE: You should ALWAYS consult with an Estate Planning Attorney for all of your estate planning needs since this area requires professionals who are experienced and knowledgeable with state and federal laws.

Trying to do this on your own could be very risky.

Doing so will ensure your personal and financial goals and wishes are met and potential family conflicts (and usually lawsuits) are avoided.

CALL NOW 561-746-1926 or 561-339-8102 if you have any questions or concerns or would like to schedule a FREE, Confidential, No-Obligation Tax-Saving Consultation.