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Ensuring Your Money Goes to Those who Matter Most
It’s easy to put off paperwork, but delaying updates to your retirement plan’s beneficiary designation may mean your money could end up in the wrong hands.
“A lot can change over the years — a marriage, a divorce, children, and grandchildren. A current will doesn’t cover your retirement account. Courts usually honor the beneficiary designation, even at the expense of the people and charities that matter most to you today,” said Jane Woodbury, vice president of business and fund development for VNA Care Network & Hospice.
Updating your retirement plan’s beneficiary designation is a simple process and normally free. Most plans have a beneficiary form available to download from their website. If not, contact the plan administrator for a copy.
The beneficiary options on retirement plans are flexible, so you can opt to name both individuals and charities as beneficiaries and indicate a percentage or dollar amount to go to each. You can support VNA Care Network & Hospice’s mission of caring by naming VNA Care Network or VNA Care Hospice as a full, partial, or secondary/contingent beneficiary.
The original, completed beneficiary form must be mailed back to your retirement plan. Be sure to keep a copy for your records. You may also want to review the form with your attorney or other professionals involved with your will and/or trust for more comprehensive estate planning.
If you include VNA Care Network & Hospice in your estate plans, please let us know so we can recognize your generosity during your lifetime with membership in the Caring Connection Bequest Society.
More Information
For more information or assistance with including VNA Care Network & Hospice in your estate plans, please contact Jane Woodbury, vice president of business and fund development, at 888-663-3688, ext. 1360 or jwoodbury@vnacarenetwork.org.
This information is intended for educational purposes only. For legal, tax, or financial advice, please contact your professional advisors.