Tag: Beneficiaries

Spousal Consent or Who Owns your Retirement Plan?

Spousal Consent - Patti Spencer

In general, property law is state law. There are a few exceptions and one of them is Spousal Consent to change a beneficiary on qualified plans. Many employees are surprised to find out that they must name their spouse as primary beneficiary of their retirement benefits unless the spouse consents to their naming another beneficiary.… Read More

Discussing ‘The Estate Plan’ with Beneficiaries

Discussing The Estate Plan - Patti Spencer

Estate planning aims at the transfer of wealth from one generation to another in a way which minimizes taxes and maximizes economic gain. It usually involves parents making gifts to their children, grandchildren, or charities. The problem is that while many clients spend hours with attorneys, accountants, and financial advisors crafting an estate plan, they… Read More