Part of planning for your financial future is planning for what happens to your assets if you pass away. It’s never a pleasant thing to think about, but do you know where your money would go?
Rivermark makes planning easy. If your account has a joint owner(s), your funds would pass directly to them. However, you may choose to fill out a POD (Payable on Death) beneficiary designation. The POD form allows you to designate different percentages of funds on current and future accounts (except IRAs) to specified beneficiaries, including individuals or trusts. This form is separate from a will or living trust document and will legally supersede either of those documents.
The POD beneficiary designation form is available at any of our locations or you can request a blank form by calling 503.626.6600 or 1.800.452.8502. We suggest that you fill out an updated form in the event of a name change, divorce, birth of a child or death of a loved one. Note that if you have a joint owner on your account, their signature will be required on the form.
Planning for unexpected events is an important part of a healthy financial future for both you and your loved ones. If you would like more information on estate planning, please contact our partners at Money Concepts. These advisors can guide you through the process and assist with any questions you might have.