TOP RETIREMENT MISTAKES
WHY BENEFICIARY DESIGNATIONS MATTER
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Thad Ismart, CFP®, ChFEBC, CEPS
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Tessa Hall
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About This Episode
Tessa Hall speaks with BWFA Senior Financial Planner Thad Ismart about why beneficiary designations are one of the most overlooked parts of retirement planning. They explain how retirement accounts transfer, why beneficiary forms override a will, and when those designations should be reviewed.
This episode is part two of BWFA’s Top Retirement Mistakes series, which explores common retirement planning mistakes and strategies to help avoid them.
To learn more about retirement planning, visit our Financial Planning page.
Read Full Description
Beneficiary designations play a significant role in determining who receives your retirement assets. However, many people assume their will controls those accounts.
In this episode of Healthy, Wealthy & Wise, Tessa Hall speaks with BWFA Senior Financial Planner Thad Ismart about beneficiary designations and why keeping them current is so important.
They discuss qualified retirement accounts, common beneficiary mistakes, and how outdated forms can create unintended consequences after major life events. Thad also explains how beneficiary designations interact with wills and trusts and why reviewing them after marriage, divorce, births, or deaths is an important part of retirement planning.
This episode is part two of BWFA’s Top Retirement Mistakes series.
Top Retirement Mistakes Series
Episode 1: Why You Need an Estate Plan
Episode 2: Why Beneficiary Designations Matter
Episode 3: Will You Spend Too Much in Retirement?
Episode 4: The Retirement Risk Most People Miss
Episode 5: RMD Mistakes That Can Cost You
Episode 6: Why Retirement Planning Matters