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Modern Estate Planning Blog

Elder Law & Special Needs Planning

Will Lawyer In Gold River Warns About Matching Beneficiaries to Those Named in Your Will or Trust

June 9, 2011

As a will lawyer in Gold River, I have unfortunately seen many circumstances where a person goes through the time and expense of having an estate plan done, only to fail to update their beneficiaries on financial or retirement accounts before they pass away.

An example of this would be Mary naming her brother Bill as the beneficiary of her life insurance policy in her trust, but at the time of her death, she had a different beneficiary named on the actual policy.

Just as life changes, so do your relationships, which can affect who you want to receive your assets, especially if you do not have (or plan to have) children. Changing the beneficiary on assets such as bank accounts or life insurance policies is not uncommon, but you must remember to make sure that your will or trust reflects that change also.

Keeping your estate planning documents and beneficiaries up-to-date and coordinated is a quick and painless way to prevent legal headaches from occurring after you are gone.

Having two different named beneficiaries on two different documents can result in a lengthy and costly process to fix it – especially if each named person believes that they should be the one to inherit the asset.

The best way to avoid problems like this is to have a lawyer who specializes in Sacramento estate planning handle every aspect of your estate. If you are ready to get started, we invite you to call our office at (916) 241-9661 and ask if you qualify for a free Peace of Mind Planning Session ($750 value)

Call The Chubb Law Firm today at (916) 241-9661 to review your goals and discuss your options.

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Heather helped my mother get her estate in order before her passing. It was only after that we learned just what a great job Heather did. Recently, I had the opportunity to have the Chubb Law Firm help me also with my estate. I feel confident that Heather and her team helped me to consider all of the appropriate options and to make the right choices including options I DIDN'T KNOW I HAD! This is the kind of law firm one imagines when you think about getting good legal advice.
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