Estate Planning

Beneficiary Review

The availability and popularity of retirement plans have caused most to hold a majority of wealth in the form of retirement accounts or life insurance. Despite a more financially educated public, many people do not understand how retirement assets are passed upon death, and rely on wills to control how all their assets pass. Upon death, loved ones are stricken to find retirement assets pass outside of the will and to the beneficiaries named in a beneficiary designation form.

“Mistakes made when designating beneficiaries can be equally costly and even tragic because they impair the ability … to protect, preserve and pass on assets to their heirs,” according to a recent InvestmentNews article, 
“about 80% of beneficiary forms … are either blank, outdated or not properly filled in.” The most common mistakes made are accounts left to deceased individuals and ex-spouses. It is imperative to update beneficiary forms following major life events, such as births, marriages, deaths and divorces.

Few recognize the essential role of protecting their assets and ensuring their assets pass to their loved ones as planned. Through our valuable Beneficiary Review service, our team of CPAs and tax professionals help you properly position your beneficiary designations to present a lasting legacy.

Key benefits to a beneficiary review:

  • Ensure your assets are appropriately designated
  • Provide a greater financial legacy to your heirs through advanced planning concepts, like Stretch IRA
  • Pass assets tax efficiently
  • Avoid the emotional, expensive and public legal process of probate

Receive a personalized Beneficiary Review Report with real asset distribution maps and a summary of your inheritance distribution by individual or appropriate party. We also pride ourselves on properly educating you on legacy preparation, planning concepts, and suitable strategies to successfully transfer your retirement assets. We work to thoroughly understand your wishes and help you avoid costly mistakes.

Have questions? Contact us or call 855-872-8593.

Adagio Capital Advisors is based in Southwest Florida.