While it may not be something you think about often, naming a beneficiary is one of the most important steps you can take to protect your funds and the people you care about. Beneficiaries are the individuals you assign to receive your account assets after your passing. Having one on file helps ensure your funds are transferred according to your wishes, reducing confusion and delays during an already difficult time. A few things to consider include:
- Adding a beneficiary if you haven’t already: Without one, your account may not be set up to transfer as easily as it could.
- Review existing beneficiaries: Marriage, divorce, children or other life events may impact who you want listed.
- Keep beneficiary details current: Outdated information can create delays when funds need to be distributed.
- Confirm other account information is correct: Accurate phone numbers, emails and addresses help ensure we can reach you if questions arise.
Reviewing beneficiaries and updating account information is a small task that can have a lasting impact. If you’re unsure whether your information is up to date or need help making changes, contact us today.