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Black Parents Aging Podcast

Mar 29, 2023

Not too long ago, Nicola represented a husband whose wife had passed, and since the wife had not yet updated her life insurance after their marriage, all of the proceeds went to her parents who were not willing to pay for her burial out of the funds they received. This left the husband frustrated with the burial arrangements. 


This and many other beneficiaries' failure horror stories prompted Nicola to unpack the 8 different things that you should understand about beneficiary designation forms. Beneficiary designation forms are 800-pound gorillas when it comes to the distribution of assets after one's death; they trump last wills and testaments in court. So how does one do it right? Tune in to find out! 


Tune in as she shares about:

  • What beneficiary-designated forms are 

  • The tax consequences and different planning opportunities

       The importance of:

  • Remembering to name the beneficiary in the forms

  • Naming both a primary and a contingent beneficiary

  • Updating your beneficiary forms for major life events

  • Reading all the instructions in the forms

  • Making sure your beneficiary designations coordinate with your estate plan

  • Understanding the potential consequences of using a beneficiary for the particular asset

  • Not naming your estate as a beneficiary


… and so much more! 


Let’s continue the conversation on our Free Facebook group!: Black Parents Aging


Connect with Nicola:

LinkedIn: Nicola Robinson


Connect with Olivia:

LinkedIn: Olivia Smith