✅ Week #31 Action Item: Review Your Beneficiaries
- By reviewing and designating beneficiaries, you can ensure that when the time comes your assets will go exactly where you specify.
- Beneficiary designations take priority over wills and trusts, so if, for example, an ex-spouse is still your named beneficiary, they will receive the proceeds.
- You can designate beneficiaries on investment accounts, retirement plans, bank accounts, life insurance policies, wills, trusts, and more.
- ⭐️ Pro-tip:
- Name a contingent beneficiary in the event that your primary beneficiary predeceases you.
💭 Habit of the week: Detailed Focus
- Detailed focus on your beneficiary designations
🤔 Get Ready Money Guide Tip:
- What positives came out of your review of your designated beneficiaries and estate plan?
📝 Resources (available to all):
📝 Access your resources for this week’s action item (#31) from your Get Ready Money Club dashboard (located in Monthly Focus Area 8: Your Legacy):
- The Get Ready Blueprint week 31 worksheet where you’ll walk through reviewing your beneficiaries for your wills, trusts, bank accounts, life insurance and retirement plans.
- Review fillable PDF’s and excel worksheets for these plans from prior weeks:
- Bank accounts (monthly focus area 5, week 18)
- Life insurance (monthly focus area 8, week 34)
- Wills & Trusts worksheets (monthly focus area 8, week 32)
- Retirement plans (monthly focus area 9, week 36)
Note: These resources are available for all Get Ready Money Club members.
Join the Get Ready Money Club (here)
Source: The Get Ready weekly action item is from The Get Ready Blueprint: A 52 Week Guide to Changing The Way You Think About Money). Pick up your copy at your favorite online bookshop (Amazon)(bookshop.org).
About Tony Steuer
I make the complex world of financial services easy to understand so that people feel empowered to take control of their financial lives. A recognized authority on financial preparedness - in case of that disaster you did not expect - I advocate for ethics, integrity and consumer protection within the financial industry.
I make the complex world of financial services easy to understand so that people feel empowered to take control of their financial lives. A recognized authority on financial preparedness - in case of that disaster you did not expect - I advocate for ethics, integrity and consumer protection within the financial industry.