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U.S. News & World Report Smarter Investor Blog Series- How to Prepare Your Finances for Death

Death and finances are two subjects few people like discussing. Preparing your finances for death is a subject nearly no one wants to discuss, but it is necessary. And the more your finances are in order, the better off your family and loved ones will be when that time comes.

In his weekly submission to the U.S. News and World Report Smarter Investor blog series CEO Scott Holsopple discusses what steps should be taken to prepare your finances for your death.

In an excerpt from his post, Scott explains the different beneficiary options available with a 401(k).

“Depending on the account, there are state and federal laws that bind who can receive a balance after your death unless you formalize an alternative correctly. And in the case of a 401(k) plan, the person listed on the beneficiary form has a right to that money, regardless of what your will calls for at your death.”

Although it’s tough to think about and even harder to discuss, preparing your finances for your death is a necessity that must be done.

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