Just because you make out your Will does not mean all your property will pass through it. There are certain types of assets that pass outside of a Will, according to contract.
For example, life insurance policies, retirement plans and payable-on-death/ transfer-on-death accounts are all considered “contracts”. The beneficiaries you designate will inherit these assets directly, regardless of what your Will states. It is imperative that you not only make these designations, but also update them after a marriage, divorce, or other major life event. Questions? Concerns?
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