What impact do the beneficiary designations on my life insurance policies, annuities, and retirement accounts have on my estate plan?
Your beneficiary designations have the benefit of avoiding probate so any assets that have a beneficiary designation, an annuity, a life insurance policy or even a bank account can avoid the probate process if they are properly beneficiary designated. Beneficiary designations should be discussed with your estate planning council just to make sure that it’s part of a complete estate plan.
