Planning for your death may feel slightly morbid and uncomfortable. But the alternative option — ignoring estate planning and beneficiary designations — could end up infinitely worse.
One little-known election on your retirement accounts, the choice of per stirpes vs. per capita, could even send your retirement money to the wrong beneficiary or cut someone you love out of receiving anything at all. Now that’s uncomfortable.
I recently shared on the Stay Wealthy Retirement Podcast that you won’t be around to see this calamity unfold, but the bitter fallout is something your family will likely never forget.
Beneficiary Planning and Why It Matters
The reality is, you’re alive now … but you won’t be forever. If you want your money to be inherited by the right people, there are important steps you must take today — before it’s too late. As dark and dreary as it might feel, planning for