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Beneficiaries Wills

On Behalf of | Oct 9, 2023 | Firm News

No. Your parents will receive the proceeds of the life insurance and the 401(k). Your will controls the distribution of your probate assets, which are those assets that do not have a designated beneficiary, such as your house.

In order to avoid this type of situation, I encourage my clients to review their accounts – such as life insurance and a 401(k) – when they set up a new will. Although the will doesn’t control distribution of those assets, this is a good time to review all of your assets to make sure your assets go where you want them to.