Celebrating Over 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 celebrated its 75ᵗʰ Anniversary of serving Nevada’s legal, business, government, and civic communities. More than 60 lawyers and government affairs professionals serve Nevada, national, and international clients from our offices in Reno, Las Vegas, and Carson City. McDonald Carano provides transactional, litigation, regulatory, and government affairs services to startups, corporations, private companies, trade associations, nonprofits, public entities, high-net-worth individuals, and family offices throughout Nevada. We are deeply committed to supporting local communities by volunteering our time, resources, and services, including pro bono legal services, to nonprofit organizations, charitable foundations, and public service entities. We are proud to be your Nevada law firm since 1949.
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