Newlyweds Financial To Do List

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Posted on 24th July 2013 by Rita in FREE Consumer Guides

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newlywed financial to do list

There are many details newlyweds need to tend to after the wedding excitement dies down. Since the majority of newlyweds are combining households and finances a financial to do list is a must. Below you will find a list for this task, you can also click on the image (left) if you would like to print it out.

Change Beneficiaries: If you want your spouse to own these assets should something happen to you It would be wise to go through all of your insurance policies (LIFE, health, auto, home owners), investment accounts, savings accounts, 401(k) plans, IRAs, and any other accounts and (more…)

Do You Need a Beneficiary Review?

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Posted on 18th July 2012 by Rita in Retirement and Estate Planning

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Who will receive your assets at the time of your death? We’re talking life insurance, annuities, retirement plan accounts and other assets. Did you know that contracts left to deceased individuals or ex-spouses is one of the most common beneficiary mistakes made? Another important note is beneficiary designations trump a will.

Reviewing the beneficiaries on your contracts is your assurance that many of your assets will be (more…)

Naming your Estate as Beneficiary – life insurance mistake #10

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Posted on 30th March 2012 by Rita in Life Insurance Mistakes

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how to handle beneficiary designation

Beneficiary Designation Mistakes you don’t want to make…

A beneficiary is the person or entity that receives the proceeds of the life insurance policy when the insured person dies.

In most states, naming an estate as beneficiary of your life insurance proceeds, brings an unpleasant fate to those benefits. When proceeds become part of the insured’s estate, this means the proceeds are not exempt from the estate’s creditors and are subject to probate. (note: laws in most states’ have an exemption from the claims of creditors for life insurance payable to named beneficiaries, such as: spouse, child(ren), parents, sibling or loved one.).

-Death taxes and administrative expenses can also claim a large portion of these benefits. Expect delays and additional expenses that other wise would NOT (more…)