This week’s podcast is hosted by co-owner, Jason MacGregor and Cory Laird, CERTIFIED FINANCIAL PLANNER™. In this episode our hosts will specifically cover how to manage beneficiary designations.
Show Notes
Retirement accounts – IRAs, 40Ks, Roths, and 403Bs. (01:18)
“What is a contingent beneficiary?” (02:07)
A contingent beneficiary can be updated and changed at any time. (02:50)
PSA: Verify who your beneficiaries are periodically. (03:33)
Non-retirement accounts. (04:16)
TOD – Transfer On Death. (05:03)
TOD supersedes your will. (06:55)
You can always make changes. (08:00)
Coordinate with your attorney. (08:40)
Downsides of having a TOD designation on all your accounts. (10:10)
Overview of the importance of beneficiary designations. (12:00)
To learn more about this topic and to get advice from our team of experts, contact us at info@mmwealth.com or sign up for our newsletter.