How do I coordinate beneficiary designations?
Most bank and brokerage accounts, life insurance policies and retirement accounts permit the naming of beneficiaries. In most cases, these beneficiary designations take precedence over what you provide in your Will or revocable trust. Because of this, it is very important to coordinate these designations with the terms of your Will and trust.
Further, the beneficiary designations for retirement accounts like IRA’s can dramatically affect the amount and timing of the federal income tax liabilities generated by these accounts.
We can assist you in evaluating how to make beneficiary designations that are both tax efficient and consistent with your goals and priorities.
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