blog
Planning gaps many families overlook
by
Adam Bykowski
Small oversights can create big challenges for the people you love. Here are a few worth checking.
Protection comes first
A legacy starts with protection. Before you plan for how wealth may pass to the next generation, it helps to make sure your family is protected today. Yet some of the simplest steps are easy to put off.
Outdated beneficiaries
Beneficiary designations on retirement accounts and life insurance often take priority over a will. If you’ve married, divorced, or welcomed a child since you last checked, your designations may no longer reflect your wishes.
Coverage that hasn’t kept up
As your income and family grow, the amount of life and disability insurance you need may change too. Coverage that made sense ten years ago may leave gaps today.
No plan for guardianship
Parents of young children may not have named a guardian. Without that decision in writing, a court may decide who cares for your children if something happens to you. An estate planning attorney can help you put your wishes on paper.
Conversations that never happen
Many families avoid talking about money and future wishes. A simple conversation about where documents are kept and who to call can make a hard time easier for the people you love.
The people you love benefit from the plans you make today.
Our family and legacy planning helps you protect your family first, then plan for what you’re building together. If it’s been a while since you reviewed these details, now is a good time.
Neither MML Investors Services, LLC, nor any of its subsidiaries, employees or representatives are authorized to give legal or tax advice. Consult your own personal attorney legal or tax counsel for advice on specific legal and tax matters.
