Asset Review and Planning

We also need to review your assets, checking any beneficiary designations that you may have that would affect your estate plan. All to often, people purchase an insurance policy, or annuity, or set up an IRA or other investment account with a pay on death or beneficiary designation. Sometimes the person named is no longer alive or no longer listed as your beneficiary in your estate plan.

Unfortunately this is a major flaw in the estate plan created for you as the legal documents say that you want certain beneficiaries to inherit your assets but another investment account or insurance product names some one that is different than your current estate plan. The insurance company or brokerage company or bank will follow the account instructions that you made with them, regardless of the fact that your current estate plan no longer wants the person so named in the investment account or policies.

We have a Asset Review and Planning division within our firm that will safeguard against that happening for you.