The new year is a perfect time to review your finances. From your investments to your loans, it is important to check in, make sure everything is as you expect. January is a perfect time give your finances a good audit. While you are at it, the start of the year is a great time to check in with your financial advisor, if you have one. Schedule a quick call to get an update on your investments. Ask about your outlook for the next year and get answers to any questions about your investments. While youre at it, you can ask your advisor these nine questions to ensure your money is on track to meet your financial goals. Are You a Fiduciary? A fiduciary is a financial advisor that is required to put your best interests ahead of their own. If you have a financial advisor, it should always be…
When a marriage is legally dissolved or annulled, the rights of your spouse to your will, trust, power of attorney and several other items on your financial checklist will automatically be null and void.
But did you know that divorce does not automatically cancel your exs rights as beneficiary of your life insurance policy? If you acquired a life insurance policy and named your spouse as the beneficiary, you have to take very particular steps to change that. If you dont, your ex-spouse could become the recipient of a payout upon your death!
Its an easy thing to miss. With all the more pressing legal and financial issues to sort out during a divorce, life insurance policies might get placed on the back burner.