Love Your Beneficiaries This Valentine’s Day: A Gift That Truly Lasts

Valentine’s Day is all about showing love—and one of the most impactful ways to care for your loved ones is to ensure your financial legacy is secure. Many people name beneficiaries when they open a retirement account but forget to update retirement beneficiaries as life circumstances change.

If your retirement account’s beneficiary designations are outdated, your assets may not be distributed according to your current wishes. This could cause delays, legal complications, or even financial hardship for your family.

Take a moment this Valentine’s Day to update your retirement beneficiaries and ensure your loved ones are financially protected.

Four Simple Steps to Review and Update Your Beneficiaries

• Complete Beneficiary Forms

  Make sure a signed beneficiary form is on file with your retirement plan provider. Many retirement accounts are not covered under standard wills or trusts, so a properly designated beneficiary helps ensure a seamless transfer of funds.

• Review & Update as Needed Have you experienced major life changes—marriage, divorce, a new child, or the loss of a loved one? These events may affect your beneficiary choices. Regularly reviewing your designations prevents future complications.

• Verify Your Contact Information Your financial institution needs up-to-date phone and email details to notify you of important updates. Double-check your contact information to avoid missing critical notices.

• Inform Your Beneficiaries Once your designations are in place, share this information with your beneficiaries. Provide them with a copy of the form and the plan administrator’s or IRA custodian’s contact details to prevent confusion later.

Secure Your Financial Legacy This Valentine’s Day

By taking a few moments to update your retirement beneficiaries, you are giving a gift that truly lasts. This small yet crucial step can provide security for your loved ones and peace of mind for you.

If you need to review your beneficiary designations or obtain the necessary forms, contact your plan administrator today.