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Where will your assets go?

Are your beneficiary designations up-to-date? All of them? Are you sure?

Most people have a good idea who they want to name as beneficiaries, but often, many fail to keep beneficiary designations in step with their intentions. Marital changes and changes to family status may require a change to your current beneficiary designations. If no contingent beneficiary is named and the primary beneficiary predeceases you, then payments would likely be made to your estate, creating unnecessary delays and expenses.

It was a second marriage for both Jim and Mary. Jim had a son from a previous marriage while Mary had two daughters. They knew it was important to plan for the disposition of their assets. In fact, they named each other as beneficiaries of their pension plans and bank accounts, and purchased their home as joint tenants. Unfortunately, they never got around to creating simple wills or designating contingent beneficiaries before the unthinkable happened: both were killed following a head-on car collision. Jim survived Mary by 10 days. Therefore, the house and all of their qualified assets, savings account and investments were distributed to Jim’s son. Mary’s daughters were left with nothing. With a beneficiary review, your insurance professional can help identify potential problems and suggest ways to solve them.

A beneficiary review is an easy yet vital process. The first step is to identify your insurance policies and other financial assets and determine how they will be distributed upon your death. Next, for each asset, you should decide whether or not the current beneficiary designation still meets your goals. Have you named a contingent beneficiary, where appropriate? If the answer is no, then your insurance professional can help. To begin a beneficiary review, consult the professional who provided this brochure to you. He or she will assist you in completing a beneficiary review form and in determining whether your current beneficiary designations continue to meet your goals. A beneficiary omission may cause unnecessary probate costs and serious delays in the distribution of your assets. If your beneficiary designations are out-of-date, you may not be passing property according to your current intentions. With a beneficiary review, we can help you identify potential problems and suggest ways to solve them.

For more information please contact Robert Goldsmith for a free Beneficiary Review 1-877-529-6543 or e-mail


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