Who are your beneficiaries?

3 Oct 2023 · 1 min

Watch on YouTube

0:46

In this brief YouTube monologue, financial advisor Jerry Taylor urges viewers to immediately verify the beneficiary designations on all their financial accounts—including checking, savings, brokerage, life insurance, IRA, and 401(k). He stresses that the person named as a beneficiary on an account or policy overrides any instructions in a will or trust. Taylor emphasizes that major life events such as marriage, divorce, or the birth of a child are critical moments to review and update beneficiaries, and he ends with a call to action to sign up for his newsletter.

Chapters

Answer these questions. Who is the beneficiary on your checking account, savings account, brokerage account, life insurance policy, your IRA, your 401? That's what I thought. You either don't know or you're not sure. If you don't know the answer to all of those questions, you need to find out immediately. It doesn't matter who you put in your will or your trust to receive any of those accounts or policies. If you have someone different named as a beneficiary, the beneficiary you've named will always win out. If you married, divorced, have a child, or experience some other significant life event, you need to check your beneficiaries each time. Make sure you know who your beneficiaries are now. You can thank me later. And then you can sign up for my newsletter in my bio link.