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BAPCPA Analysis of Consumer Provisions Michael Barnett, PA Form

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um so what's the best way to deal with inheritance issues surrounding say bank accounts insurance policies and uh possible retirement plans yeah those are all assets that are contractual um situations between you and say your retirement plan your insurance company your bank you want to make sure that your beneficiary provisions on all those contractual assets are up to date and accurate the the famous example is of a of a man who named his uh then wife as an uh the beneficiary on a million dollars life insurance policy they went through a divorce but he didn't change his beneficiary provisions on a life insurance policy guess who got the life insurance proceeds when he died his ex-wife the best way to handle assets um handing them down to the next Generation on contractual things like life insurance policies retirement plans and bank accounts is to make sure your beneficiary Provisions are accurate and up to dat

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