You Don’t Know

11 Sept 2025 · 0 min

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Whoever you named as beneficiary on your bank accounts, brokerage accounts, and life insurance takes the money when you die, no matter what your will says. Most people don't know who they actually named, or named someone years ago and forgot to change it.

Who is the beneficiary on your checking account, savings account, brokerage account, life insurance policy, your IRA? That's what I thought. You're not sure. If you don't know the answer to all of those questions, you need to find out. Doesn't matter who you put in your will or your trust, beneficiary you've named will always win out. Make sure you know who your beneficiaries are now. You can thank me later.