The powerful benefits of a beneficiary review

Helping your clients do more for their loved ones, while avoiding common beneficiary mistakes.
 

Help your clients understand the importance of updating their beneficiaries.

Get started today by downloading our Client Guide .


You’ve all heard the cautionary tales.

An ex-spouse collects a death benefit that was intended for the current spouse. Along the way, fights break out. Lawsuits happen. Family members stop talking.

And the biggest irony? The person who left behind the money, did so as an act of love. They never imagined that such chaos would ensue. Or maybe they mistakenly believed that their will would take care of who gets what in the end.

A short conversation. With a lasting impact.

It’s this simple. If you reach out to your clients annually to review their beneficiary designations, unnecessary hardship and misunderstanding can be avoided. After all, they may have many types of accounts that list beneficiaries, not just the ones that you oversee.

The holidays are a great time to discuss beneficiaries, because during this time of year loved ones are often top of mind. And a beneficiary review is a service that can go a long way in helping your clients ensure that the legacy they envision is in good order.

Top 5 reasons why clients should update beneficiaries:

  1. Their money might not go to whom they intended
  2. Their will doesn’t always control who gets the money
  3. They may have forgotten to add (or subtract) a beneficiary
  4. They may not realize which life changes necessitate a titling update
  5. Their beneficiaries may be hit with a larger tax bill than necessary
     

An introduction to the next generation

Research says 66% of children1 move on to a new financial professional once they inherit wealth. Well, a beneficiary review can be an opportunity to connect with the next generation. You can discuss with them if they’re better off with a lump-sum payment or extended payouts. Today’s conversation may pave the way for a future relationship.

Partner with us

Contact your Lincoln representative today at 877-533-0265. to learn how you can help make your clients’ legacies last, add protection to their retirement income plans and build deeper relationships. For additional tips and insights, make sure you follow us on LinkedIn and Twitter .

Bob Vashko

Bob Vashko provides client-focused, solutions-based case design to financial professionals with an emphasis on variable and fixed annuities. For over 12 years, Bob has helped financial professionals and their clients accumulate, distribute and transfer wealth in accordance with their clients’ goals.
 

Bob began his legal career in 1997, practicing law in New Orleans with a focus on intellectual property and estate planning. In 2008, he moved into the role of Director of Advanced Markets at Jackson National, where he was in high demand by wholesalers across the country as a partner on complex income- and estate-planning projects. He was often called upon to confer directly with clients’ CPAs and estate planning attorneys, and was a frequent speaker at industry conferences and top-producer sales meetings for some of the largest financial services firms in the country.
 

In 2017, Bob transitioned to the Lincoln Financial Distributors Advanced Sales team in the role of Advanced Sales Consultant, and looks forward to helping financial professionals and planners find new and innovative ways to help their clients meet their financial and estate-planning goals.
 

Throughout his career in financial services, Bob has strived to be a trusted and valued resource to financial professionals through his deep knowledge of the tax- and estate-planning opportunities available with variable and fixed annuities. He takes pride in his ability to explain advanced sales strategies in simple terms that both financial professionals and clients can easily understand.
 

Bob holds a B.A. in political science from Western Illinois University, and a J.D. from Loyola University-New Orleans, where he continues to reside with his wife and their three children.
 

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