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Podcast: Big Picture Retirement®
Episode: The Fine Print of Beneficiary Designations
Description: Beneficiary designations seem straightforward at first glance. Just fill out a form naming the people you wish to inherit your account in the event that you pass away. Seems simple enough, right? What lurks in the background is some nuance contained within these designations that may result in unexpected outcomes. Two examples: -Not properly designating per stirpes vs. pro rata can actually lead to accidentally disinheriting members of your family that you had NO intention of cutting out -Leaving a trust as the beneficiary can be the perfect solution o...