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FREQUENTLY ASKED QUESTIONS > Estate Planning Questions & Answers > WHAT ARE BENEFICIARY DESIGNATIONS?

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Beneficiary Designations determine how certain assets will be distributed at the time of your death.  These are most often used with life insurance policies, annuities, IRAs and other retirement plans. 

You should be very careful with beneficiary designations because improper designations can result in assets being distributed to unintended persons, and can cause significant additional taxes to be due.