Beneficiaries & Why They're Important

When it comes to planning, it's essential to think about having a beneficiary in the event you pass away. Having a beneficiary will remove the uncertainty of what will happen to your assets after you're gone. Below are a couple of reasons to have a Beneficiary.

• It eliminates confusion – If you don't have a Beneficiary set up, it can leave everyone wondering what will happen with your assets and who gets what. When you have a designated beneficiary, it makes the process of allocating your assets easier and less stressful.
• It will save your family time – Without a beneficiary set up, your assets can go to the state depending on your state's laws. Setting one up will help make sure that your assets go to your loved ones.
• It can build financial wellness for your loved ones – Leaving behind assets to your loved ones can help them build future financial wellness.

Check out this article from Prudential to learn more about why you need a beneficiary. Stop into your local American 1 Credit Union or contact us today to set up a Beneficiary on your account.

 

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