Beneficiary Designation Mistakes to Avoid By Edward H. Adamsky
Remember that your Will or Trust only controls assets that are not controlled in some other way. Many of your assets pass by Beneficiary Designation rather than through the terms or your Will or Trust. The common ones are Life Insurance and Retirement Accounts. You can also name beneficiaries on bank accounts with the ITF designation (a misnomer as it stands for “In Trust For,” but is really just a beneficiary designation) and you can …
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