Update Your Beneficiaries

[Pom]

CD's, IRA's, 401k's etc... After divorce, life changes and encourage your parents and family members to do these things as well.  FIL was angry and ill and didn't do these things properly, so we are uncovering a mess.

We are in probate and beneficiary hell.
 

[arch01]

I agree with Stan. I want to like it but feel bad that you're dealing with such a mess.

I went through my accounts last week and found 2 that I have documented where I added beneficiaries (new hire paperwork) but it didn't make it to the online system.

[Deleted]

Very solid advice. I realized yesterday I'd neglected to take exH off of one of my retirement accounts. I got the paperwork sent in to correct that and add my sister instead.

[delawarejen]

Very, very important. I've also filled out forms and had them not flow through online. It's also important for people who get married. I think there was a Nestie/Probie whose husband didn't change his life insurance over to her, and so when he died suddenly, all the insurance money went to his parents (but she had all the bills to handle).

[Poppy]

Good reminder. Sorry, Pom, that you're dealing with this, though.

[Pom]

At one time (after Mr. P's mom passed) this was all set up correctly. FIL remarried and after that divorce, his mental capacity had failed and it is all a mess.

[steph96]

I hope you are able to get everything worked out!

Hopefully someone can answer this... After I got married I thought I updated all of my stuff. When I look online, it still says the beneficiaries are "the estate of [my name]". Is that an issue?

[Pom]

Mar 27, 2015 11:50:55 GMT -5 steph96 said:

I hope you are able to get everything worked out!

Hopefully someone can answer this... After I got married I thought I updated all of my stuff. When I look online, it still says the beneficiaries are "the estate of [my name]". Is that an issue?

I would not hesitate to call and ask them.  When I look on-line at our beneficiary designations and it says my name for Mr. P's and his name for mine. " The estate of" could indicate no named beneficiary (to me after all of this).

[cjeanette]

Mar 27, 2015 12:02:31 GMT -5 RockNVoll said:

Mar 27, 2015 11:50:55 GMT -5 steph96 said:

I hope you are able to get everything worked out!

Hopefully someone can answer this... After I got married I thought I updated all of my stuff. When I look online, it still says the beneficiaries are "the estate of [my name]". Is that an issue?

Not a professional, but I take that to mean you don't have any named beneficiaries.

Correct.  It will go through probate.  Which is a pain at it's best and a hot mess often.

[lys]

So sorry - what a mess.

We have a standing practice to review all legal and financial documents every 5 years just to keep on top of changes, life happenings etc to keep things as current as possible.

Hopefully things will eventually be resolved in a manner to your liking.

[Deleted]

Ugh. I'm sorry Pom!

[Emerald1486]

All of my beneficiaries are currently my brother (since DS is a minor) or DS.

I'm sorry you are going through that

[thebulldog]

I liked only for the reminder of this.
I am so sorry you are dealing with this.

Sent from my SM-G900P using proboards

[sproutmd]

I'm so sorry you're dealing with this mess. :/ Thanks for posting the advice.