Why Beneficiary Designations Could Harm Your Family

Some financial advisors and accountants might insist that an estate plan isn't necessary, suggesting that naming beneficiaries on your accounts will suffice. But what they might not mention are the hidden risks that could threaten your family’s financial security. Learn more.

Estate Planning, FinancesErica EndykeAugust 20, 2024beneficiary designation, beneficiaries, beneficiary designated accounts, beneficiary accounts, estateplanningtips, estateplanning, estateplan

Could You Fall Victim to This Million-Dollar Mistake?

Picture this: You’re in your twenties, completing a form at your job, and designating your partner as the beneficiary of your retirement account. Fast forward 28 years—you’ve moved on, experienced life to the fullest, and then passed away, leaving your former partner with your now-million-dollar retirement savings. Sounds unbelievable? Think again. Read on to find out more.

Estate Planning, Financial PlanningErica EndykeAugust 6, 2024estate plan, estate planning, beneficiary designation, beneficiary designated accounts, retirement account, retirement planning, simple estates, beneficiary accounts, willsandtrusts, wills, trusts