IMPORTANT DISCLAMER: NONE OF THIS SHIT IS LEGAL ADVICE
I MEAN THINK ABOUT IT, I’M A GODDAMNED RANDO ON THE INTERNET

Since it’s something I learned in the last week, did you know that the beneficiary forms on file with your bank, insurance companies and investment brokerages override any and all instructions that you may have left in your last will and testament?

Well it’s true, do yourselves a favor, go to each & every institution and update your forms motherfuckers.

Also, you generally DO NOT want to have the beneficiary form on your IRA point to a living trust (unless that trust qualifies as irrevocable, which most don’t.) This is because under the SECURE ACT 1.0 when a trust becomes the named beneficiary of an IRA the timeline that the trust has to draw down the entire account goes from 10 years to 5 years. So your heirs will lose 5 years worth of tax bracket arbitrage and investment growth if you decide to make your living trust the beneficiary of your IRA.

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