HI, I'M SKIP REYNOLDS WITH SKIPTON LAW,
ESTATE PLANNING AND ELDER LAW HERE
IN CENTENNIAL COLORADO.
AND ON TODAY'S VIDEO,
I WANT TO TALK A LITTLE BIT ABOUT BENEFICIARY
DESIGNATIONS ON ACCOUNTS AND HOW THEY ACTUALLY WORK WITH YOUR WILL OR TRUST,
IF YOU HAVE A TRUST.
SEE MANY PEOPLE BELIEVE THAT A BENEFICIARY
DESIGNATION SOMEHOW GETS SWALLOWED UP
BY THE WILL OR THE TRUST. MEANING IT DOESN'T
MATTER WHAT THE BENEFICIARY DESIGNATION SAYS.
THE OVERRIDING DOCUMENT,
THE WILL OR THE TRUST IS THE DOCUMENT THAT.
WILL RULE WHO GETS THOSE ASSETS AFTER
WE DIE. WHEN IN FACT,
THAT IS NOT THE CASE,
BECAUSE HERE'S HOW IT WORKS.
SO PRETEND RIGHT HERE IS POINT A
NAMED A BENEFICIARY AND POINT C
IS THAT NAMED BENEFICIARY AND THEN DOWN
HERE IS POINT B, WHICH IS YOUR WILL OR
YOUR TRUST IF YOU HAVE ONE.
WHEN YOU NAME A DESIGNATION
AT THE FINANCIAL INSTITUTION THAT THEY
ARE TO PAY THAT MONEY TO SOME DESIGNATED
BENEFICIARY OR BENEFICIARIES,
IT GOES FROM POINT A TO POINT C,
NEVER STOPPING DOWN HERE AT POINT B.
SO THERE BY IT BYPASSES YOUR WILL OR
YOUR TRUST.
NOW IT AVOIDS PROBATE,
WHICH IS WHAT MANY PEOPLE WANTED TO DO.

BUT A LOT OF PEOPLE DON'T
UNDERSTAND THE RELATIONSHIP
THEY THINK THERE WILL SOMEHOW JUMPS UP
THEY THINK THERE WILL SOMEHOW JUMPS UP
THE WILL CAN ONLY GRAB
THAT WHICH GOES THROUGH IT.

SO IF YOU WANT YOUR WILL OR YOUR TRUST
TO BE THE VEHICLE IN WHICH THINGS ARE
DISTRIBUTED TO YOUR FAMILY OR
WHOMEVER YOU'RE LEAVING IT TO.
YOU NEED TO GET THE ASSETS TO THAT DOCUMENT.
IF ALL YOU
WANT TO DO IS BYPASS AND
PROBATE AND SEND IT TO SOMEBODY,
WHAT I'VE CALLED IN OUR OFFICE THE
"HERE YOU GO PLAN."
YOU CAN GO FROM POINT A TO POINT C VERY EASILY.
YOU CAN GO FROM POINT A TO POINT C VERY EASILY.
BUT MANY PEOPLE WILL HAVE FANCY THINGS
IN THEIR WILL OR THEIR TRUST AND THEY'RE
NOT UNDERSTANDING THE RELATIONSHIP OF
THIS POINT A TO POINT C,
NEVER STOPPING AT POINT B WHICH IS
THEIR DOCUMENT.
SO IT'S IMPORTANT TO UNDERSTAND THE
RELATIONSHIP OF BENEFICIARY DESIGNATIONS TO
YOUR ESTATE PLAN TO ENSURE THAT YOU
GET THE PLAN THAT YOU WERE THINKING YOU
WERE GETTING AT THE END OF THE DAY.
THIS IS SKIP REYNOLDS WITH SKIPTON LAW
ESTATE PLANNING AND ELDER LAW HERE IN CENTENNIAL.
IF YOU LIKE THIS VIDEO THERE'S A
FEW WAYS THAT YOU CAN SUBSCRIBE TO
OUR YOUTUBE CHANNEL.
YOU CAN ENGAGE WITH US ON SOCIAL MEDIA
OR IF YOU LIKE THIS CONTENT
WE DO BI-MONTHLY WORKSHOPS IN OUR OFFICE
TO EDUCATE CLIENTS ABOUT
ALL OF THESE DIFFERENT ISSUES.
WILLS, TRUSTS,
POWERS OF ATTORNEY, MEDICAID, PROBATE,
POWERS OF ATTORNEY, MEDICAID, PROBATE,
ON OUR VIDEOS.
IF YOU'D LIKE TO PARTICIPATE IN THAT
THERE'S TWO WAYS THAT YOU CAN,
YOU CAN GO TO OUR WEBSITE WHICH IS
WWW.SKIPTONLAW.COM
CLICK ON THE RESOURCE TAB AND THEN YOU
CAN FIND OUR WORKSHOPS THERE OR YOU
CAN CALL OUR OFFICE AT (720) 440 2774 AND
HOPEFULLY THIS IS A GOOD VIDEO FOR YOU,
THANKS SO MUCH FOR JOINING US.

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