What Your Will Can’t Do
Your Will Does Not Control These Assets
- IRAs, 401(k)s and other retirement plan assets. With each account, you will need to name a beneficiary to receive the benefits of your plan.
- Life insurance policies. You will need to name the beneficiaries of your life insurance policies to receive the death benefits after your lifetime.
- Any assets you own jointly with rights of survivorship. If you are the first of the two joint owners to die, your part will automatically pass to the surviving joint owner. Note, however, that your share of assets held as tenants in common will flow through your will to your beneficiaries.
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Contact your estate planning attorney to learn more about making your plans the best they can be. If you would like to include PETA in your will or other estate plans, we can help. Just contact Tim Enstice at 757-962-8213 or firstname.lastname@example.org.