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Caring for Your Loved Ones
When you've worked hard and spent a lifetime building assets, both financial and physical, make sure that your affairs are organized so your beneficiaries know your intentions.
You never know what the future will bring so we've pulled together some simple steps that can help make those painful situations a little easier for those tasked with your financial management.
When opening accounts or policies such as life insurance, IRAs and brokerage accounts, you’re usually asked to name one or more beneficiaries. It’s easy to forget about this as life goes on, but things do change: new children or grandchildren are born, and other beneficiaries may pass away. Whenever there’s a life change in your family, consider whether you should make any updates to your beneficiaries on all your relevant accounts. And if you haven’t named any, keep in mind that the asset will default to your spouse or, if he or she is no longer living, to your estate – which leads to probate and tax ramifications.
To learn more, talk with one of our consultants in the Investment and Retirement Center at On Tap Credit Union.
Whether you’re dreaming of your retirement cabin, starting your own business, or planning your estate, the Investment and Retirement Center at On Tap Credit Union© is here to help.
We offer a host of investment and retirement services, including:
- Retirement Planning
- Savings & Investment Planning
- Asset Allocation
- Education Planning
- Estate Planning
- Annuities & IRAs
- Asset Management
- Investment Services
- Mutual Funds
- Life Insurance
- Long-Term Care
