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THE IMPORTANCE OF BENEFICIARY DESIGNATIONS.

You should make sure you have designated a beneficiary (or beneficiaries) for all of your financial accounts, including investment, retirement and bank accounts. Doing so will allow you to designate to whom you want the funds in those accounts to be transferred when you die. Make sure those review your beneficiary designations periodically to make sure they are up to date.

If you have not designated a beneficiary for a financial account, the transfer of the funds in the financial account will be determined by the Probate Court pursuant to your Last Will & Testament or the probate laws of the state of your last residence.

This insight into the law is provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.

 

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Copyright © 2017 by Attorneys Bailey & Gunderson Co., L.P.A. All rights reserved. 

5257 Montgomery Rd, Norwood, OH 45212 - Phone: 513-631-0022

Bailey & Gunderson Co., L.P.A., is Cincinnati Family Law. Estate Planning And Bankruptcy Lawyers located in Cincinnati, Ohio, and represents clients across Hamilton County and beyond, in places such as Batavia, Norwood, Western Hills, Anderson Township, Anderson, Amelia, Mason, Harrison and Hamilton. 

Disclaimer: The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.

 

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