Why do you need to update your beneficiary forms even if you have a Will? Why do beneficiary forms generally supersede your will?
Why do you need to update your beneficiary forms even if you have a Will? Why do beneficiary forms generally supersede your will? Min Austria Assistant at Ascent Law LLC When it comes to estate planning, it's very common to think of Wills and Trusts as the two pillars upon which your plan is built. However, beneficiary forms can also be a key component in ensuring that your plan has been executed correctly and that your wishes are carried out. Beneficiary forms refer to the forms you fill out at work or in retirement accounts if you want to designate who receives what assets in the event of your death or becoming disabled. These forms often supersede what you have in your will because they are more up-to-date and they take into account any beneficiaries you've already named in the past—which could include children, spouses, partners, or alternate beneficiaries. Regardless of whether or not you have a Will (or even if you don't), these beneficiary forms should be updated eve...