Summary:In this episode of "Estates Made Simple" we delve into a critical but often overlooked aspect of estate planning – beneficiary designations. This seemingly minor detail can have a significant impact if not handled thoughtfully. Join us as we explore the nuances of beneficiary designations, potential conflicts, and best practices to ensure a smooth transfer of assets.We will go through the following critical points: the executor's limited control, the importance of planning, and the need for clarity in beneficiary designations to prevent unintended consequences and disputes.   Key points:Executors do not control assets falling outside the estate via beneficiary designations.The "last in time" principle governs conflicting instructions from the will and beneficiary designations.Best practices include ensuring beneficiary designations align with estate planning objectives.Consider tax implications, especially for registered products, and seek professional advice.Review and update beneficiary designations to avoid surprises and ensure consistency. Hosts:Jenna CarvalhoThe smartest way to choose an executor.Guardian Estate CompanyFacebookLinkedInInstagramGordon VanderLeekGive your family a legacy of protection - Wills, Estates and Trusts.VanderLeek LawFacebookLinkedInInstagram

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