Elevate Wealth Management

This 4th of July is a milestone year!

It’s our nation's 250th birthday.

Hope most of you are enjoying a long weekend celebrating this historic anniversary.

From our family to yours, wishing you a happy Independence Day weekend.

Which is the final word: your beneficiary designations or your will?

Your beneficiary designations. In almost every circumstance, it’s beneficiary designations.

It's one of the most overlooked facts in estate strategies. The beneficiary forms on file for your retirement accounts, insurance policies, and other accounts are legally binding—and they almost always override whatever your will says.

A former spouse still listed on a retirement account can inherit it. Someone written out of your will entirely can still receive an insurance payout. Assets intended for your children may pass to someone else because a form was never updated.

This applies across the board—even to payable-on-death bank accounts.

The good news: a beneficiary review takes minutes.

When did you last review yours?