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In her blog Gwendolyn Jo Carlberg covers matters surrounding divorce and family law out of both a personal and a legal perspective. The blog is monthly, if you have any questions about it feel free to contact us.


Wednesday, May 12, 2010
Important Financial Planning

For those accounts which suggest a beneficiary designation, IRAs, or 401ks, Servicemembers Group Life Insurance (SGLI), or Thrift Savings Plans (TSP), you should designate a beneficiary so that the funds go directly to your beneficiaries upon your death, instead of going into your estate.

For those accounts that are non-retirement accounts-retail accounts-you should complete a payment on death (POD), or transfer on death (TOD) Agreement and list your beneficiaries and your secondary beneficiaries so that those accounts go directly to your beneficiaries upon your death, instead of going into your estate.

Many people fail to take these steps, and therefore when a person dies, the failure to designate a beneficiary often results in probate, expense, and unnecessary estate processing delays.



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