Welcome to SolidPlanning.com. Solid Planning is a site where our dreams, strategies, and hard work are combined to produce tangible results. On this site we will review books, tips, tricks, and strategies, looking for ways to build our plan to meet the 2009 goals posted in the far right column. As we make progress we'll bring you along with articles and stories on this site. We welcome your suggestions and feedback along our journey so please feel free to leave comments!

Jan 4, 2009

Beneficiary Review

Every time you update your Will you should also conduct a Beneficiary Review of your assets. A recent study found that "80% of beneficiary forms on individual retirement accounts, defined benefit pension plans and insurance policies are either blank, outdated or not properly filled in".

A Beneficiary Review is simply a check on the beneficiary form for each of your assets to ensure mistakes were not made when designating beneficiaries. Many times these forms are filled out quickly when the account is new and they are never looked at again. Mistakes or blank forms can be very costly because they impair your ability to protect, preserve and pass on assets to your heirs.

Now is a perfect time to conduct a Beneficiary Review by contacting the respective financial institutions and/or visiting your Human Resources department.

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