Today I learned that retirement account and life insurance beneficiary designations usually supersede any designations you have in your will.
I wrote a will a few years back when I bought a house, and I assumed it covered my entire estate.
I was wrong.
I checked my retirement account beneficiaries today. I opened one of my IRAs 20 years ago before I got married and had kids, and I had never changed the beneficiary on it. All that money (and it's a lot to me) would have gone to the wrong person if I had died.
Check your beneficiaries, y'all, especially if you get married (or divorced).
Submitted December 14, 2021 at 10:12AM by FIREful_symmetry https://ift.tt/3ynKBPQ
