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Review your beneficiary designations annually

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Brenda EcheverriaAs you experience changes in your life, do not forget to review your beneficiary designations. Life changes such as marriage, divorce, or death are indicators that you may need to make sure your beneficiary designations are still appropriate and reflect your wishes. Many people fail to change their beneficiaries after a life-changing event.

The beneficiary designations associated with your retirement account(s) take precedence over your will. Be sure to review your designations at least annually to ensure they are current and in line with your intentions. You may want to consult your attorney to ensure that you understand all aspects of your decision.

Brenda Echeverria, Financial Planner