Beneficiary Designations Can Cause Nightmare Situations

Even after an estate plan has been carefully put together with the help of an experienced estate planning lawyer, everything can be undone if a bank, brokerage or retirement account names the wrong beneficiary.  In fact, a carelessly named beneficiary can cause a loved one to be disinherited, a disabled child to lose government benefits, and heirs to be slapped with a big tax bill.

Wall Street Journal  July 6, 2011

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