Investing for a 99-Year-Old
At 99, beneficiary designations warrant close review. People named as primary or contingent beneficiaries on IRAs, 401(k)s, and life insurance policies decades ago may have predeceased. A policy or account with no living beneficiary passes through the estate rather than directly to heirs, potentially delaying distribution and complicating probate. Updating designations to reflect the current family situation is a straightforward administrative step with significant estate impact.