Celebrating 75 Years of Serving Nevada’s Legal, Business, Government, and Civic Communities

Planning Your Beneficiary Designation

November 1, 2018, The Good Life

As we plan for our future, there is a common oversight many people make without knowing it: forgetting to update beneficiary designations. This includes retirement plans at work, IRAs, life insurance policies, mutual funds, bank accounts, brokerage accounts, annuities, Health Savings Accounts, etc. If you fail to keep current your beneficiary designations and you pass away without updating designations, your assets could go to the wrong people. So, it’s recommended that you review them every few years and make appropriate changes.

In fact, beneficiary designations that are inconsistent with your will can also wreak havoc on an estate plan. The way that assets are titled will most likely determine how and when those assets are dispersed. keep in mind, your assets must specifically be titled in your trust. If not, all the benefits of the trust may not be recognized. To read entire article click here.

About McDonald Carano

In 2024, McDonald Carano celebrates 75 years of serving Nevada’s legal, business, government, and civic communities. More than 60 lawyers and government relations professionals serve state, national, and international clients from our offices in Reno, Las Vegas, and Carson City. McDonald Carano provides legal services and government affairs and advocacy counsel to startups, corporations, trade associations, nonprofits, public entities, high-net-worth individuals, investors, and public-private partnerships throughout Nevada. We are proud to be your Nevada law firm since 1949.

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