Why Beneficiary Reviews Are a Must— Not a Maybe Protect your legacy with regular updates to your financial documents

When it comes to financial planning, many people assume that once they’ ve named beneficiaries on their accounts, they’ re set for life. But if life changes, it may be time to change your beneficiary designations. Whether it’ s a retirement account, life insurance policy or investment portfolio, regularly reviewing and updating your beneficiaries is one of the most important steps you can take to protect your legacy and ensure that your wishes are honored. Explore why a simple update to beneficiaries today can prevent costly mistakes tomorrow.

What is a beneficiary designation? Beneficiary designations are instructions that tell financial institutions who should receive your assets after you pass away. They apply to a wide range of accounts, including 401( k) s, IRAs, life insurance policies, annuities, and even bank or brokerage accounts. What many people don’ t realize is that these designations typically override what’ s written in a will or trust. That means if your beneficiary information is outdated, your assets could end up in the wrong hands, regardless of your estate plan.

When to review beneficiaries. Life doesn’ t stand still, and neither should your financial documents. Marriage, divorce, the birth or adoption of children or grandchildren, the death of a previously named beneficiary, or changes in financial goals and relationships are all common life events that should prompt a beneficiary review. For example, if you haven’ t updated your retirement account since a divorce, a quick review can help avoid unintentionally leaving a significant portion of your savings to an ex-spouse. Failing to update your beneficiary designations can lead to assets going to unintended recipients, legal disputes among heirs, delays in asset distribution, and even tax complications for beneficiaries.

How to review beneficiaries. Reviewing your beneficiaries doesn’ t have to be complicated. Start by gathering all account documents and confirming both primary and contingent beneficiaries. Make sure names, relationships and contact details are accurate. Then, take time to ensure that your designations align with your broader estate plan. It’ s a good idea to revisit this information annually or after any major life event. If you’ re unsure where to start, your financial advisor can help guide the process and make sure that everything is coordinated properly.

Call me today to get started 412.831.6240

Jonathan D Martin Financial Advisor

Work with a financial advisor. As a financial advisor, I help clients take a holistic approach to legacy planning. That includes reviewing beneficiary designations across all accounts, coordinating with estate planning professionals, identifying tax-efficient strategies for asset transfer, and facilitating family conversations around financial intentions. These steps help ensure that your wishes are clearly documented, and your loved ones are protected, should the unexpected occur.

Beneficiary reviews may seem like a small detail, but they carry significant weight. Taking the time to update your designations can prevent confusion, conflict and costly mistakes down the road. A financial advisor can help make sure that your financial plan reflects your current life, your values and your legacy.

Jonathan D. Martin is a financial advisor with Ameriprise Financial Services, LLC in Bethel Park. He specializes in financial planning and asset management strategies. Contact Jonathan’ s office at 412.831.6240 ext. 202, located at 88 Fort Couch Road, Suite 210, Pittsburgh, PA 15241, or visit his website at ameripriseadvisors. com / jonathan. d. martin. Jonathan is licensed / registered to do business with U. S. residents only in the states of PA, AL, MD, TX, OH, WV, AZ, CA, FL, IL, IN, NC, NJ, SC and VA.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation.

Ameriprise Financial cannot guarantee future financial results.

Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Meet your future with more confidence.

88 Fort Couch Rd, Suite 210, Pittsburgh, PA 15241 jonathan. d. martin @ ampf. com ameripriseadvisors. com / jonathan. d. martin

32 724.942.0940 TO ADVERTISE ❘ icmags. com

IN Bethel Park Fall 2026 | Page 34

Why Beneficiary Reviews Are a Must— Not a Maybe Protect your legacy with regular updates to your financial documents

YOUR FINANCES

Why Beneficiary Reviews Are a Must— Not a Maybe Protect your legacy with regular updates to your financial documents

Meet your future with more confidence.