Service Plus Credit Union

Financial Smarties: Who will your money go to?

Posted on 04/20/2021 at 08:41 PM by Service Plus

Like life, this Financial Smartie is short but very important that you make the most of it.

Did you know that beneficiaries trump any wills or last testaments?  Many people don’t realize this fact and often forget to update their account beneficiaries accordingly.  This situation can leave the deceased person's money to ex-spouses, other deceased family members, or no one at all.

A good time to update beneficiaries is after any of the following life events happen:

  • Marriage

  • Divorce

  • Birth of a child.

  • Death of a loved one.

After these or any other major life events be a financial smarty and update beneficiary statements with your financial institutions, retirement plans, financial advisors and insurance companies.

To update your beneficiaries at Service Plus, call and talk to one of our member service representatives.  

Categories: Financial Smarties

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