If you have life insurance policies, or any accounts that are not covered by a will or trust, do you know who your beneficiaries are? For that matter, when is the last time you looked at your will or trust to review and update your beneficiaries?
It is not uncommon after someone passes to find stray policies that had been paid off years ago, or policies that had small annual payments that individuals kept making the payments on without reviewing the policy. The surprise comes for the executor or expected beneficiaries to find out that policy and account beneficiaries hadn't been reviewed or updated.
It doesn't matter what was in your heart or mind, it matters what was written on the document.
Stories like this happen far too often. Don't let it happen to you. Review all policies and accounts that have beneficiaries.
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