FAQ Friday: Designations

Friday, October 3rd, Attorney, Steve Berger discusses the importance of updating your beneficiary designations after the first death with a married couple.

Attorney, Steve Berger was the trustee for his aunt and uncle who both passed in the last 5 years. Steve was given a hard time when calling about the retirement accounts asking for a personal representative. Everything was put into the trust so avoiding probate was hopeful.

Luckily, Steve was able to call back and find out this uncle was the main beneficiary on the account. The moral of the story is if his aunt had updated the beneficiary designation to their trust after his uncle passed, then it wouldn’t have caused so many hoops to jump through.

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