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After careful review of the COVID-19 environment, the law firm of Chayet & Danzo, LLC, will be conducting in-person appointments in our offices on a limited basis and with strict social distancing protocols.

During this time, our team will continue to diligently work remotely on all client matters and will maintain communication through email, telephone, and video conferencing. Our main office number, (303) 355-8500 will continue to be answered during our normal business hours of 8:00 a.m. to 5 p.m. Monday – Thursday and 8:00 a.m. to 4:00 p.m. on Fridays.

This decision to have limited appointments in-office while following strict social distancing protocols is in the best interest and health of our team, clients and community.

We will continue accepting new clients during this period as well as fully servicing our existing clients.

We wish you and your family continued health during these unique and challenging times.

Compassion, talent and dedication:
guiding colorado families and Their Trusted Advisors During Times of Need

Beneficiary designations must be updated after big life changes

| Dec 20, 2013 | Probate Litigation |

A well-established estate plan clearly defines the beneficiaries who will be receiving your assets when you pass away. Beneficiaries are named for assets such as mutual funds, IRAs, retirement plans, life insurance documents, brokerage accounts, bank accounts, 529 plans and annuities. A mistake that some Colorado residents end up making involves failing to update designated beneficiaries when circumstances change. For example, if you get a divorce but never remove your ex-spouse as a beneficiary, some of your assets could end up going to your ex regardless of what’s stated in your will.

Periodically reviewing beneficiary designations is a part of effective estate administration. There are a number of life events when such a review is recommended. For example, when you change jobs, you should review your beneficiaries. If you transferred money from an old retirement plan to a new plan with your new employer, the beneficiaries may have lost claim in the process. Make sure that the correct people are listed on your new plan.

You’ll also want to review beneficiaries for any accounts at financial institutions that have gone through big changes. If your bank changed ownership, it may have dropped your beneficiary designations.

Make sure to update your documents if any of your beneficiaries pass away. If no beneficiary is listed, your assets may need to be divided through probate litigation.

You may also want to designate a new child or grandchild as a beneficiary. If the child is a minor, you may want to look into establishing a trust and naming the trust as one of your beneficiaries.

You’ll also want to examine your designation of a beneficiary if he or she becomes disabled. Receiving part of your estate when you die may prevent the beneficiary from certain Social Security and Medicaid benefits.

It’s also important to make sure that your beneficiaries match those listed in your will. If your will is not consistent with your account designations, it can lead to confusion and possibly even litigation within your family. An attorney can help insure that these designations are consistent and help avoid unnecessary problems among your family members and other heirs.

Source:, “The Big Estate-Planning Goof You May Be Making” Harper Willis, Dec. 16, 2013


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