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IRA, Investment Services

Questions when Choosing Beneficiaries

When’s the last time you did a beneficiary audit of your retirement and investment accounts? By designating beneficiaries, you’re taking the first step to reduce the risk of your retirement and investment accounts being processed through probate court to settle your estate. Probate can drag on for months or years, and the process can eat away 5% or more of an estate's value.

That’s why taking important steps now, whether to designate a beneficiary or simply review your current status, can help your financial future. When partnering with your financial consultant, you’ll review the following questions to help ensure that you are on the path to achieve your important legacy goals.

  1. Have you experienced life transitions — marriage, divorce, birth of a child, death of a spouse — since you last designated account beneficiaries?
  2. Are the beneficiary designations on your retirement and other investment accounts up to date?
  3. Are you sure that your retirement and investment assets will pass to the heirs of your choice with as little tax impact as possible upon your death?

Your financial consultant can help you evaluate your options and make sound decisions. Together, you’ll take inventory of all your accounts and their respective beneficiaries. And remember, consultations are always complimentary.

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The financial advisors of Orange County's Retirement & Investment Services are registered with and offer securities and advisory services through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/ SIPC). Insurance products are offered through LPL or its licensed affiliates. Orange County's Credit Union and Orange County's Retirement & Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Orange County's Retirement & Investment Services, and may also be employees of Orange County's Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Orange County's Credit Union or Orange County's Retirement & Investment Services. Securities and insurance offered through LPL or its affiliates are:

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