Review Your Beneficiaries

Recently I went to the bank to deposit some funds into my Money Market Account, nothing unusual EXCEPT the clerk said to me, "the account with Irma as the beneficiary".

I was in shock - Irma was my aunt and godmother and has been dead for over 10 years.  It then dawned on me that I never updated this account and removed her as the beneficiary.

Very often people forget to do that - someone dies, you divorce and you forget that they are your insurance beneficiary or they are named on a bank account or a stock/mutual fund account.

Perhaps as you put together your files to take to the accountant to prepare your taxes, you also take a look at all your accounts and ensure that the proper individuals are reflected as your beneficiary.

Remember taking the time now will make things easier for your family when you pass.