Mike continues his discussion of setting up beneficiaries on your various accounts.

* Remember that beneficiary designations will take priority over anything named in your will.

* Don’t unknowingly disinherit your grandkids: a helpful tool for this is using per stirpes language.

* Is there a danger to naming only one child as the beneficiary and trusting them to distribute to the other heirs according to your desires?

* How can you make sure your IRA assets get paid out over time instead of one lump sum?

* Life Events such as birth of a new child, death of a loved one, divorce, marriage should act as triggers for you to double check your beneficiaries.

* What is the difference between Tenants in Common and Joint Tenants With Right of Survivorship (JWROS) on a real estate deed?

* When was the last time you double checked your deed to see how it is titled?

* What about having JWROS on a bank account or a brokerage account?

* Is it a good idea to have a joint account with an elderly parent and their child who helps them with day to day responsibilities?

* What about your child’s spouse (your in-laws) and your grandchildren? Have you drafted your documents to make sure they get the assets as you intend?

* What about 2nd marriages and kids from previous marriages?

* There are times when a trust would be the most appropriate. Have you considered that route?

* What about minor children?

* There are certain people you shouldn’t name as beneficiaries: who are they?

* Did you know you can name your church or favorite charity as a beneficiary? There are special considerations for this, too.