Navigating a clear course toward your financial security.

Beneficiary Designation Information

Your will does not dictate the way that all assets will be distributed. The distribution of assets, such as IRAs, pensions, and insurance policies, which are "contractual" in nature, is governed by the beneficiary designation forms that were completed at the time the account or policy was created. These designations take precedence over the provisions in your will.

If our database does not have beneficiary designation information on your "contractual" accounts, we will ask you to bring your records with you so that we may review them and get caught up.  It is important to coordinate beneficiary designations with your will.

One of the hidden benefits of these plans is the estate planning aspect. A gift of up to $50,000 per donor in one year to each beneficiary is a great estate tax reduction technique. For gift tax purposes, the gift is considered to have been given over a period of five years at $10,000 per year.

During 1999, we will review the records of all client families with children or grandchildren who might benefit from the new Section 529 college investing plans. The plan provisions vary by state. Our biggest concern is that the plans are invested too conservatively. We will discuss our recommendations with you when we meet again.

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