A tip for the living: it’s wise to add beneficiaries to bank accounts and such. Doing so will make things much easier for the people of the future. If someone isn’t capable of adding beneficiaries, a person with power of attorney can do it for them.
The reason for this post: a bank employee mentioned to us that so many people don’t think to add beneficiaries for their accounts. And having power of attorney is no help after someone dies: that’s when power of attorney ends.
Thanks, Mom and Dad, for adding beneficiaries to your accounts.
[I’m not a lawyer, but lawyers say that beneficiaries trump wills — at least in many cases — and thus avoid the complications of probate.]
Friday, May 16, 2025
Beneficiaries
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comments: 4
I'm actually in the process of sorting a trust and will. Property and investment accounts go into the trust, which go to my designated heirs, and the will just cleans up the physical junk of life.
I wish you the best with it.
great reminder! when my mom died after my father, i didn't know that i was beneficiary of an ira through usaa. my brother was executor and found out. and we found out that she had stocks that we didn't know about. yes, i need to go through and add my brother to my bank accounts, the ira if it's possible, ad check anything else.
kirsten
I hesitated about writing this post, and now I'm glad I did. :)
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