Charles went through a divorce six years ago. Although Charles changed the beneficiary on his life insurance policies, he failed to change the beneficiaries on his retirement plans – his IRA and his 401K. Charles passed away and his ex-spouse received the proceeds despite the fact that Charles had remarried and wanted to leave his assets to his current spouse.
A Concentrix Wealth Advisor makes certain that all of your documents – will, trusts, investments, insurance accounts – are reviewed for appropriate ownership and beneficiary designations. This is a fundamental step in planning that many planners fail to do.
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