Beneficiary Designations: The Most Overlooked Area in Estate Planning
Beneficiary Designations: The Most Overlooked Area in Estate Planning How have you named beneficiaries on your retirement accounts like 401k, 403b, IRA, etc? Beneficiary designations on retirement accounts supersede anything that is listed in a Last Will and Testament. Beneficiary designations create some opportunities and some challenges. The opportunity is when you name a beneficiary, you bypass probate on those accounts. The main challenge is that your Will is multiple pages and allows for very specific instructions and legal language when it comes to your estate. However, the beneficiary designation box on a retirement account is one single line […]
What if 1 Million Dollars Isn’t Enough to Retire?
If you are headed toward retirement soon, or you have just retired, you may find yourself wondering, “Is my nest egg enough?” It’s a common question and one that causes a lot of people a lot of reasonable anxiety. Because retirement finances are much more about prediction than they are about facts and assurances, it can be hard to feel confident that you will have enough to carry you through your entire retirement. As you know, medical expenses, long-term care, housing repairs, and other unpredictable costs are just a part of life, so how can you prepare for those […]
