Did You Know Beneficiary Designations Override Your Will or Trust?
Important Estate Planning Alert
Beneficiary designations on certain accounts and policies always override what your Will or Trust says. If they are out of sync, your assets may not go where you intended — no matter how carefully your estate plan is written.
Accounts That Often Hold the Bulk of Your Estate
For example, you may have:
- IRA
- 401(k)
- Life Insurance
- 529 Plan
- Annuity
These often make up the bulk of what you'll leave behind. But here's the problem: if your beneficiary designations don't match your Will or Trust, your assets will not go where you intended.
A Real-World Example
- ✓ Your Will says "everything goes to Tim."
- ✗ But your 401(k) still names George, your life insurance still names Susan, and your IRA names Tim.
Result? Tim only gets the IRA. The Will is powerless here.
Key Point
Beneficiary designations always override your Will or Trust.
Action Step
The first step to making sure your assets actually go where you want them is to review your beneficiary designations alongside your Will or Trust.
Prepared by Gale Ranch Notary, Apostille and Financial Services for your family protection awareness.
Let's Make Sure Your Estate Plan Works the Way You Intended
- Contact Govind Gopal at +1 (925) 322 3131
- GaleRanchNotary.com
- Govind@GaleRanchNotary.com
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