The Coronavirus Conversation You Need to Have with Your Family Right Now
Barbara J. Lawrence, Chair of the Trusts & Estates Department, was quoted in The Philadelphia Inquirer and insurancenewsnet regarding estate planning in light of the spread of COVID-19. In discussing getting financial affairs in order, Barbara addressed ensuring that beneficiary designations are up to date. Noting that when 401Ks and IRAs are set up a beneficiary is added, but when life circumstances change -- such as a marriage -- the beneficiary may not be changed. "If this information is up to date then your desired beneficiary will be taken care of," Lawrence said.