Review Your IRA, 401(k) Beneficiaries


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MINT HILL, NC – When you opened your IRA and 401(k) accounts and your life insurance policy, you had to name a beneficiary.   But have you checked to see if this designation is still up to date?

If your family situation has changed in some way, perhaps through remarriage, you may need to revisit the designations.  Otherwise, you might create an accidental inheritance in which someone who is no longer in your life ends up receiving money from your retirement account or proceeds from your life insurance.



You might think you’ve already addressed this problem by updating your estate plans.  But the beneficiary designation on your IRA, 401(k) and insurance can even supersede what is in your will, living trust or other legal documents.

So, if you haven’t reviewed these designations in a while, try to do so in the near future.  If you have to make changes, all you’ll need to do is fill out a change of beneficiary form.

When it comes to leaving assets behind to your loved ones, you’ll want to know exactly who is getting what – so stay current on your beneficiaries.

If you have any questions, please contact me at (980) 859-2549 or by email at Brandon.Monette@edwardjones.com.

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

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