I Never Thought About Updating Beneficiaries on my Retirement Accounts

No better time than the present. Keeping your beneficiaries, both primary and contingent, up to date matters, so your wishes in regard to who should receive your money are carried out. It’s best practice retain your own copy of beneficiary documentation, in the event your retirement account provider is unable to locate the document upon your death. Even with all the advances in technology and recordkeeping, paper copies can still disappear. 

Avoid having someone else decide who receives your retirement account. It’s a good idea to periodically review beneficiary information and update as necessary. Some examples of when you need to update your retirement account beneficiary designations include when a spouse or family member dies, divorce, marriage, an overall change in one’s family situation, financial or tax status changes, etc. 

Chances are, this will be the largest check your beneficiaries will ever receive. 

Back to General IRA FAQs

Back to IRA Resource Center

If you have questions about your Traditional or Roth IRA, 401k, Rollover IRA, investments, retirement accounts, SEP, or Simple IRA you've come to the right place. Our comprehensive IRA Resource Center is here to help you navigate the difficult waters of your retirement investments.

No matter your goals, St. Croix Advisors is your one stop solution to managing your business and your life, so you may enjoy both to the fullest. 

Contact Brett Anderson today to learn more at 651-337-1919.