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Elevage Partners

When life changes, update the map

The Beneficiary Blueprint Series, Part 2

By Echo McNeill, Associate Financial Planner, Elevage Partners

A new marriage. A new job. The loss of a loved one. Life has a way of moving faster than our paperwork.

Echo McNeill
Associate Financial Planner
In financial planning, beneficiary designations are like a map. They chart where your assets will go when you’re no longer here. But even the most accurate map becomes outdated if the landscape changes and no one updates the route.

Before joining Elevage Partners, while working with national wirehouse firms and broker-dealers, I saw it often: clients whose portfolios were carefully managed, yet whose beneficiary forms hadn’t been touched in years. A second marriage. A first grandchild. A career change that came with a new retirement plan. Each milestone reshaped their lives, but not their documentation.

And that disconnect matters. Because your accounts don’t automatically “know” about the life you’ve built since you first opened them.

Where the Gap Begins

Every life event — joyful or difficult — can quietly create a gap between your intentions and your outcomes. Some of the most common scenarios include:

  • Marriage or divorce that adds or removes family members.
  • The birth, adoption or loss of a child.
  • A job change that opens a new 401(k) or pension plan.
  • The death of a previously named beneficiary or contingent.
  • The establishment of a trust that changes your estate structure.

Each moment marks a new chapter in your story, and your plan should turn the page with you.

A Quick Review with Long-Term Impact

Updating beneficiary designations isn’t a heavy administrative task. It’s a brief, intentional step that prevents confusion and protects your loved ones later on. Think of it as “financial housekeeping” and something to revisit whenever life changes significantly.

Here’s a rhythm that works well for most people:

During major life transitions: Review all your account beneficiaries within 60 days of a major change.

Annually: Check that names, addresses, and relationships are still current.

With your advisor: Discuss whether new accounts or policies need to be coordinated.

Small habits like these can make a profound difference — not just in where your wealth goes, but in how confidently you can live today.

Why It Matters at Elevage Partners

At Elevage, we believe financial planning isn’t a one-time project; it’s a lifelong partnership. Our role is to help you keep your map aligned with your life so that your intentions travel exactly where you want them to.

Updating your beneficiary designations isn’t just about forms; it’s about stewardship. It’s how you make sure that, as your life evolves, your legacy follows.

Looking Ahead

In Part 3 of The Beneficiary Blueprint, we’ll look at the most common mistakes families discover too late and how a simple review can prevent them.

At Elevage Partners, we anticipate — we prepare.

If life has changed recently, now is the perfect time to review your beneficiary designations. Schedule a complimentary 30-minute conversation with me by clicking this link.

The information contained herein represents the views of Elevage Partners at a specific point in time and is based on information believed to be reliable. No representation or warranty is made concerning the accuracy of any data compiled herein In addition, there can be no guarantee that any projection, forecast, or opinion in these materials will be realized. Any statement non-factual in nature constitutes only current opinion which is subject to change. These materials are provided for informational purposes only and do not constitute investment advice. Any reference to a security listed herein does not constitute a recommendation to buy, sell, or hold such security. Past performance is no guarantee of future results. The historical returns of any securities and/or sectors mentioned in this commentary are not necessarily indicative of their future performance.

Important Disclosure(s)
The information contained herein represents the views of Elevage Partners at a specific point in time and is based on information believed to be reliable. No representation or warranty is made concerning the accuracy of any data compiled herein In addition, there can be no guarantee that any projection, forecast, or opinion in these materials will be realized. Any statement non-factual in nature constitutes only current opinion which is subject to change. These materials are provided for informational purposes only and do not constitute investment advice. Any reference to a security listed herein does not constitute a recommendation to buy, sell, or hold such security. Past performance is no guarantee of future results. The historical returns of any securities and/or sectors mentioned in this commentary are not necessarily indicative of their future performance.