Many other financial products have beneficiary designations, as well, such as: A primary beneficiary is your first choice to receive an asset. You may also be asked to name a contingent ...

It is important to review and update beneficiary designations regularly to ensure that the HSA funds are distributed as desired. Although HSAs offer federal tax advantages, state tax treatment can ...

While wills and trusts are vital estate planning instruments, beneficiary designations can supersede them. Beneficiary designations often dictate the distribution of assets such as retirement ...

Rather, they must request to add a beneficiary and fill out a beneficiary designation form provided by the bank. Once an account owner assigns a beneficiary, the beneficiary only has access to the ...

However, if you’re not careful, missing or outdated beneficiary designations can easily 10 reasons why beneficiary designations are important | Local Business | argus-press.com Skip to main content ...

Strategic Beneficiary Designation: Naming lower-income beneficiaries or a surviving spouse can help reduce tax burdens. Follow us on Facebook, Instagram, X (formerly Twitter) and LinkedIn!

Instead, she says, the beneficiary designation or the terms of the IRA agreement makes that determination. Therefore, one should be aware which person or entity would inherit the money before ...

Furthermore, it should be emphasized that retirement accounts and life insurance policies pass by beneficiary designation form, overriding any will or trust document. The CPA financial planner’s ...

and births warrant regular reviews of your beneficiary designations, and new considerations about where you want these funds to go and how you want them used. The Community Property Factor in ...