Estate planning attorneys do a lot of talking and writing about how to plan and what to plan for. But they don’t always offer much practical advice on what to expect in the immediate aftermath of your loved one’s unexpected passing. I’m not talking about the week after, or even the day after– Do you know what you should do or expect if you came home to find that a loved one passed away unexpectedly? Here are some things you should know, based on my own human experience and from years of work in my former life as a police officer and emergency medical technician.
Everyone should periodically review and update beneficiary designations on insurance policies, bank accounts, and retirement plans. But due to federal employee-benefit laws, divorced individuals need to be even more diligent about this, especially with respect to employer-sponsored plans. By being active in your estate planning, you can make sure that your hard work transfers to your intended beneficiaries according to your wishes.