Beneficiary Designation Review Attorney in Houston, TX

Yes, and you'll usually file the forms yourself through each bank, insurer, or plan website. The hard part isn't filling out the form. It's choosing the right primary and contingent beneficiaries, deciding when to name a trust, and making sure every account matches your will or trust. A mistake can send money to an ex-spouse, a minor who can't receive it, or your estate and probate. A review catches those problems before you update anything.

No. Accounts with a named beneficiary, such as life insurance, retirement accounts, and payable-on-death bank accounts, pass by the form on file, not by your will. Even a brand-new will can't change them. That's why outdated forms are one of the most common estate planning mistakes: the will says one thing and the account goes somewhere else entirely.

Per stirpes means that if one of your beneficiaries dies before you, their share passes down to their children instead of being split among your other beneficiaries. For example, if you name your three children per stirpes and one dies first, that child's share goes to their kids. Without per stirpes, many forms divide the share among the surviving beneficiaries only. It's a small checkbox with a big effect on grandchildren.

A contingent beneficiary receives the account if your primary beneficiary dies before you or declines the money. You should name one on every account. Without a contingent, the account can default to your estate, which means probate in Harris County and, for retirement accounts, a faster tax payout for your heirs. Naming contingents is one of the simplest fixes a review makes.

Name your revocable living trust when beneficiaries are minors, have special needs, or shouldn't receive a lump sum. For retirement accounts, the trust needs specific terms so your heirs keep the most favorable tax timeline, so it's not a decision to make on your own. For many married couples, naming a spouse first and the trust second works well. Francisca recommends the right setup for each account.

For a 401(k) or similar employer plan, usually yes, unless your spouse signs a written consent. Federal law generally requires that consent before you name anyone else as primary beneficiary. Texas community property rules can also give your spouse a claim to part of an account or policy funded during the marriage, even if someone else is named. A review flags where spousal consent or community property could cause a problem.

Don't name them directly. An inheritance paid straight to someone who receives SSI or Medicaid can count against the $2,000 resource limit and end their benefits until the money is spent. Instead, name a special needs trust for their share, so the money supports them without affecting eligibility. A review checks every account for this problem.

Yes. Texas lets a vehicle owner name a sole beneficiary to receive the vehicle at death, without probate, using a beneficiary designation filed with the Texas Department of Motor Vehicles. It's an easy step that keeps a car or truck from becoming a probate issue. Francisca can include vehicles in your review and explain how they fit with the rest of your plan.

Yes. Texas allows a transfer on death deed, which names who receives your home at death without probate while you keep full ownership during life. A Lady Bird deed works in a similar way. Many Houston homeowners instead deed their home into a revocable living trust. Each option has trade-offs, and Francisca explains which fits your home and your plan.