The Pre-Flight Checklist: Double Check Your Beneficiaries
When we flew in Jim’s Cessna 170, we had no idea it would be the last time. For years, my son has shared his dream of becoming a pilot. Spending time with Jim and flying in his plane is a memory we will never forget. Jim was a passionate aviator and generously shared his love of flying with my son. Shortly after this flight, Jim was diagnosed with a terminal illness and passed away months later.
While we don’t often think about it, none of us know when our last flight will be. Just as pilots follow a strict pre-flight checklist before takeoff, there are important steps we encourage our clients to take to ensure their assets support the people and causes they care about most.
1. Verify Your Current Beneficiaries
Just as a pilot confirms fuel levels before takeoff, check that listed beneficiaries on your investment accounts are accurate. Life changes such as marriage, divorce, births, or deaths may require updates to reflect your current wishes.
2. Confirm Accuracy of Information
A pilot checks all instruments before takeoff to avoid errors. Likewise, ensure that the names, contact details and Social Security numbers of your beneficiaries and are correct to prevent complications later.
3. Align Your Legacy with Your Passion
Before takeoff, a pilot sets their course. Consider whether your beneficiaries reflect your values and interests. Naming a non-profit organization that aligns with your passion will continue inspiring future generations and further your legacy.
Just as Jim’s legacy lives on through his passion for aviation and the memories he created, we have the opportunity to leave our own legacy. Taking the time to review and update your beneficiaries ensures that your hard-earned assets are directed to the people and causes that matter most. It’s a simple yet powerful way to safeguard what’s important to you. Remember, life is unpredictable, and while we will never know last flight takes place, we can ensure our financial legacy is ready to take off when the time comes.
7642154.1This material and the opinions voiced are for general information only and are not intended to provide specific advice or recommendations for any individual or entity. To determine what is appropriate for you, please contact your Rose Street Financial Professional. Information obtained from third-party sources are believed to be reliable but not guaranteed. The tax and legal references attached herein are provided with the understanding that neither M Financial Group, nor its Member Firms are engaged in rendering tax, legal, or actuarial services. If tax, legal, or actuarial advice is required, you should consult your accountant, attorney, or actuary. Neither M Financial Group, nor its Member Firms should replace those advisors.
Securities and Investment Advisory Services offered through M Holdings Securities, Inc., a Registered Broker/Dealer and Investment Advisor, Member FINRA/SIPC. Rose Street Advisors, LLC is independently owned and operated. File #7085279.1
Jeremy Heavey
AIF ® , NSSA ® | FINANCIAL ADVISOR
Jeremy is passionate about partnering with individuals and families to identify what is important in their lives and creating a comprehensive financial strategy to help them reach their life goals. This holistic approach allows Jeremy and the wealth management team to ensure the specific needs of the client are front and center as they make investment recommendations and collaboratively design custom-tailored financial plans.
Jeremy has a professional track record starting, leading, and managing for-profit and non-profit organizations. He is a graduate of Taylor University and has completed business programs at both Hong Kong Baptist University & Harvard Business School. Jeremy is also formally trained and certified in behavioral assessment, conflict management and life coaching. Jeremy, his wife Kim and their 4 kids reside in Kalamazoo. They love spending time exploring the outdoors, fixing up their farmhouse, and living life with friends and extended family.
Fun fact: Jeremy has been playing drums since he was 13 years old and made callbacks for the Blue Man Group.
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