SOUTHCOAST ESTATE PLANNING BLOG
This One Mistake Could Doom Your Child’s Financial Future
Naming your minor child as a beneficiary on a life insurance policy, IRA, 401(k) or an annuity is a critical mistake that many people make. Massachusetts Estate & Elder Law Planning Attorney, Andrew Garcia, explains why naming a child could inadvertently doom their financial future.
One of the best ways to protect your child’s finances and to ensure that your plans for that child’s future is carried out is to name a living trust as beneficiary while they are young.