Retirement Riches: How an Ex from 1989 is Cashing In

In this episode of the Trust the Plan Podcast, Nick Hopwood, CFP® and Jim Pilat, CFP® delve into a Wall Street Journal article about a woman who, after a breakup nearly 40 years ago, stands to inherit her ex’s $1 million retirement account due to a beneficiary designation made in 1987.
This intriguing case underscores the critical importance of regularly reviewing and updating beneficiary information. Nick and Jim stress that during every client meeting, they ensure accounts are thoroughly reviewed, including making any necessary updates to beneficiary designations. This proactive approach helps prevent unintended financial consequences and ensures that your assets are distributed according to your current wishes.
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Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions so they can Retire With Peace of Mind.
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