February is a month that is full love. Whether one is referring to American Heart Month or Valentine’s Day, have you done your duty to protect your loved ones?
When was the last time you did an insurance review? When was the last time you did a beneficiary review of your accounts? Perhaps you experienced a life change such as gotten married, divorced, had a child or two. Maybe you no longer want that friend whom you were so close to 10 years ago to remain the beneficiary of your retirement account. Show the love by giving yourself and your loved ones piece of mind by completing a beneficiary review. This exercise will ensure your wishes are properly carried out.
Over the last few months we have had clients pass away and beneficiaries were under the impression they knew where all of their loved ones assets were located. However, the more the beneficiaries dug through unorganized paperwork the more they realized they had no idea what assets their loved one had. Considerable time, energy and money gets wasted trying to find certain documents that could have been easily organized.
We advise those we work with to make sure they revisit beneficiaries annually because you don’t want your assets to fall into the wrong hands or worse yet, lose those hard-earned assets to costs associated with probate. Probate is a lengthy process which costs the estate money and time.
Do you have a list of all your personal contacts, investments, insurance policies, bank accounts, other important documents in one easy to find location? Or perhaps you think your filing system is systematically organized, it is, but come to find out your system is only for you to understand.
Call our office today and we can provide this form for you. We can also provide a complimentary online secure vault to store all of your important information including where documents are, wills, trust, power of attorney paperwork, etc. You can provide us instructions to release the information to a specific person or persons upon incapacitation death. You will want to remember to update this form annually and your loved ones will truly appreciate your labor of love you put into protecting your assets, as well as, making their lives a bit less stressful during the grieving process.
Any opinions expressed in this forum are not the opinion or view of American Portfolios Financial Services, Inc. (APFS) or American Portfolios Advisors, Inc.(APA) and have not been reviewed by the firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors.