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Health & Fitness

5 Common Beneficiary Mistakes

Do you know who your beneficiaries are?  

Here are 5 common beneficiary mistakes to avoid:

  1. Assuming a will or trust is sufficient.  Beneficiary designation always trumps your will or trust.
  2. Accidentally leaving an ex-spouse as a beneficiary.
  3. Forgetting to add a new child or grandchild as a beneficiary.  
  4. Completely neglecting to name any beneficiaries.
  5. Forgetting to update a beneficiary designation if the existing beneficiary dies. 

Don't make these mistakes, too! Know who your beneficiaries are!

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Click here for a helpful beneficiary designation checklist form

Tim Russell is a Registered Representative with, and securities are offered through, LPL Financial, Member SIPC www.sipc.org.

The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.

The registered representatives associated with this blog may only discuss and/or transact securities business with residents of the following states: AZ, CA, CO, GA, IL, MI, NC, NJ, NV, TN, VA.

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