While naming spouse/children as beneficiaries is easy, there are many other factors to consider:
– Is your current spouse your child(ren)’s parent?
– Are any of your children/grandchildren minors or young adults?
– Do all beneficiaries make sound decisions with regard to money?
– Do any beneficiaries have substance abuse or mental health issues that influence decision making?
– Are any beneficiaries easily influenced by others?
– Is a beneficiary in a bad marriage?
These are just a few factors to consider when deciding whether to leave insurance, or any other assets of value, outright to beneficiaries.
We’re here to discuss your designated beneficiary options with you. Reach out with questions and for more information.