Always remember that designated beneficiaries take precedence over people you name as your heirs in your will and trust. That is, if you can name someone as a beneficiary directly in situations like life insurance, IRAs, pension plans, retirement plans, pay-on-death, transfer-on-death, or any other instances where you can directly name a beneficiary, then that beneficiary will take precedence over any contrary distributions wishes you state in your will and trust.
Proper estate planning involves checking such accounts to make sure it fits your overall goals. Remember this important follow-up to your estate planning process.
[For general information purposes only. No content in this post or Facebook page or our website is intended to serve as legal advice. Estate planning is a serious matter and you should not rely on advice from internet strangers.]
