Did you know that distribution of your retirement accounts should not be governed by your will? Have you correctly and completely prepared your beneficiary designation forms for your retirement assets? It’s the beneficiary designation form that controls how these assets are distributed after your death. Ask yourself: Have I named young children as beneficiaries of my retirement account even though persons under the age of majority cannot “own” such assets? And remember, some retirement accounts have a “default beneficiary” if you neglect to prepare a beneficiary designation form that reflects your wishes.
A careful review of your beneficiary designations for your retirement accounts — whether a 401k, traditional IRA, Roth IRA, or other savings / investment vehicles — is an extremely important part of the estate planning process. I encourage you to learn more about it by reading the information provided in the links below:
I will review your beneficiary designation forms to make sure that these important and valuable assets are distributed in accordance with your wishes. I welcome you to contact me to discuss your particular plans or concerns. Based in Bethesda, Maryland, I work with clients in Maryland, Virginia and the District of Columbia.