Moving from one home to the next can be an exciting time in one’s life. Even so, moving involves daunting tasks like packing, un-packing, transferring utilities, and worst of all… updating your address. With all the places our address needs updating (i.e., post office, driver’s license, insurance, etc.), there is bound to be one that inevitably slips through the cracks. It may seem harmless, but with the amount of fraud in today’s world, this can be detrimental if something falls into the wrong hands. Therefore, we want to remind you to keep your investment accounts front of mind when making updates to your personal information or your estate plan.
Personal Information includes items such as legal/mailing address, phone number, legal name (due to marriage or divorce), and email address. To verify your personal information is accurate, you can sign into your Schwab Alliance account and view your Profile. If anything needs updating, you can edit the information directly on the Schwab website. Your Service Advisor at P&A can also assist you with making these updates!
Estate planning items go beyond just personal information and focus on how accounts should be titled or registered to ensure your assets are distributed according to your wishes. Beneficiaries on IRA accounts should regularly be reviewed and updated as needed. If you have a Power of Attorney document, you will want to make sure the agent whom you have appointed will be able to act on your investment accounts. It is important to note, Charles Schwab requires their own Durable Power of Attorney form to be completed to add an agent onto an account. If you need to make any updates to your account titling, beneficiaries, or power of attorney, please contact our office.
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Pittenger & Anderson, Inc. does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. Additionally, the information presented here is not intended to be a recommendation to buy or sell any specific security. To learn more about our firm and investment approach, check out our Form ADV.
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