For most of us, the vast majority of our assets will not pass according to our will, but will transfer according to beneficiary designations. These assets include individual retirement accounts (as an example: IRA’s, 401(k)’s, 403(b)'s and 457(b)'s), brokerage accounts, life insurance policies and your home.

In order to keep track of these assets and assign beneficiaries appropriately, Financial Soundings has developed an Asset and Beneficiary Management Guide which walks you through the basics of understanding what assets you may need a beneficiary designation for. Additionally, we have created our Smart Choices form to help you keep track of those assets. Our suggestion is to print out a new Smart Choices form each year, and update the information contained on it, and keep that with your other legal documents.

To view and print a Smart Choices form, click here.

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