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Changing the beneficiaries on all your accounts is crucial, says Frank Armstrong III, CEO and founder of Miami-based Investor Solutions.

“That includes life insurance policies, IRAs, pension plans, 401(k) plan

s (and) annuities,” he says. “Many brokerage accounts have a payable-on-death (POD) clause that needs to be changed. Issues related to trusts should be revisited. All of these things can come back to bite you.”

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