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“Proper planning and preparation prevents poor performance.” - Stephen KeagueWhy does talking about this matter? What does it have to do with financial planning?They’re powerful. You can specify who should inherit your retirement and life insurance assets without making adjustments to your will or trusts. In fact, these designations take precedence over wills and trusts in most cases.They’re virtually probate-proof. Because these designations generally supersede will and trust instructions, they circumvent the probate process and ensure that assets can be transferred to heirs without delay. However, if a designated beneficiary predeceases the owner and there is no contingent beneficiary, probate will likely be required.They’re simple. Many institutions offer the convenience of updating these beneficiary designations online.Need help creating a plan?Visit oakmontadvisory.com/blueprint and sign-up for a 15-Minute call with an advisor