Month: August 2015

The Importance Of Beneficiary Designations

Life insurance and retirement plans compose the largest part of the estate for many people. Insurance death benefits, IRAs, Annuities, and 401 (k)s do not pass under your will. They pass under contract law to those persons or organizations who are designated as the beneficiary. Yet many people don’t review their designations, and don’t make… Read More

Your Divorce Is Finalized: Change Your Beneficiary Now!

What happens if I divorce my spouse and I don’t change the designated beneficiary on my insurance policy? Every state has its own law governing this, but in Pennsylvania the insured’s spouse is considered to have predeceased the insured spouse unless it appears the designation was intended to survive the divorce based on the wording… Read More