SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Anthony J. Bardi
Registered Representative
Enrolled Agent, LTC# 454
Tax and Financial Solutions, Inc.
151 SE 223rd Avenue
Gresham, OR 97030
Phone: 503-666-7909
November/December 2021
Beneficiaries: Still the Ones?
Beneficiary designations name the person or persons who will receive the life insurance or retirement account proceeds upon your death.
Life events, such as divorce, remarriage, deaths, or births can all trigger the need to change beneficiary designations. Why? Beneficiary designations supersede any instructions in your will. If you fail to change a beneficiary, the original beneficiary you designated will receive the proceeds — even if you’ve named someone else in your will to inherit the account.
New Faces
As time goes on, you may want to name grandchildren as contingent beneficiaries. Contingent beneficiaries will receive the account proceeds if the primary beneficiary dies with you or before you. Alternatively, you might want to support a charity using life insurance proceeds.Avoid Unintended Consequences
Let’s say your children are equal beneficiaries of your account, but what if one of your children dies before you? Under per capita distribution, your remaining children will share the account proceeds, potentially leaving the deceased child’s own children (your grandchildren) with nothing. By specifying per stirpes distribution instead, a deceased child’s share will go to his or her children.CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Tax and Financial Solutions, Inc. and LTM Client Marketing are unrelated companies. This newsletter was created by LTM Client Marketing and was not written or created by the named financial professional and does not necessarily represent the views and opinions of Avantax Wealth Management® or its subsidiaries.
Avantax affiliated advisors may only conduct business with residents of the states for which they are properly licensed and registered. Securities offered through Avantax Investment Services℠, Member FINRA, SIPC, Investment advisory services offered through Avantax Advisory Services℠, Insurance services offered through an Avantax affiliated insurance agency. Not all products and services are offered by all financial professionals. Products and services listed may only be offered by properly licensed individuals.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.