How beneficiary forms can supercede a will

Death is a natural phase of life. But with death comes the passing of assets. There are methods to do this – one being a beneficiary form on retirement accounts, and another being a will. But if you don’t update these at all, or update them seperately of each other, then it can cause havoc when you pass away.

Rule of thumb: A beneficiary form always trumps a will.

If you leave an asset to your kids in your will, but your wife is listed on the beneficiary form, your wife will get of the assets inside the account. That happened to Deborah Smith-Marez and her siblings. Watch the video and learn how things should be done:

 

 

If you’re not sure how your estate is set up, or if your forms are completed correctly, we’d be happy to review them with you.