Chase Private Client | Our Thinking | Making Smart Choices: Ensure Your Assets are Distributed as You Wish

Our Thinking

Making Smart Choices

Making Smart Choices
Ensure your assets are distributed as you wish
Beneficiary Decisions are as Important as Your Will
Some Accounts are Easy to Overlook
Types of Accounts and Policies with Beneficiaries
Contingent Beneficiaries are Your Backup Plan
Regular Review is Essential


Review account beneficiaries after major life events

It’s a good idea to review your beneficiaries regularly, but it’s especially important to do so after major life events, such as:

  • Marriage
  • Divorce
  • New child in the family
  • Death of a spouse, child or beneficiary
  • Child/grandchild enrolling in college
  • New job
  • Retirement
  • Sale of a business


Inform Your Beneficiaries Ahead of Time


Avoid the potential delays and expense of probate

Assets in accounts with beneficiaries avoid the potential expense and delays of probate (the review and administration of a will). Probate can be a lengthy process during which an estate’s assets are tallied, its debts are paid and then finally the remainder is distributed according to the will. Assets in accounts with beneficiaries pass directly to the people or organizations you’ve chosen.


Some Accounts and Policies Require Special Treatment
When your beneficiary is a minor
529 College Savings Plans
Stretch IRA
Your estate as beneficiary
Peace of Mind for You and Your Family


The information expressed is being provided for informational and educational purposes only. It is not intended to provide specific advice or recommendations for any individual. You should carefully consider your needs and objectives before making any decisions. For specific guidance on how this information should be applied to your situation, you should consult your financial advisor


Some states, for example, offer favorable tax treatment and other benefits to their residents only if they invest in the state’s own Qualified Tuition Program. Investors should determine if their home state offers a 529 Plan that may offer such favorable tax treatment and benefits to residents or beneficiaries of that state that may not be available to investors or beneficiaries of other states. Investors should consult their legal, tax or accounting advisor before investing in any 529 Plan or contact their state tax division for more information. JPMorgan Chase Bank, N.A. and its affiliates do not offer legal, tax or accounting advice.


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