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At Fleming Financial Services, Inc., our role is to assist our clients in defining and realizing their financial objectives and goals. We work with our clients to implement personalized plans designed for their unique situations. Our areas of concentration are: Retirement planning, Estate and Wealth Transfer strategies, and Business Continuation planning. We emphasize the importance of conducting our business with integrity and professionalism. As a member of PartnersFinancial, an independent national financial services company, we are able to provide access to sophisticated resources for the benefit of our clients. Some of the professionals with our firm are currently registered to conduct business through NFP Securities, Inc. With those additional resources in place, we help facilitate the complex corporate and personal financial decisions our clients must make.
The Importance of Naming a Beneficiary
Fleming Financial Services, PA, Grandparents and CollegeOne of the smartest choices you can make is purchasing a life insurance policy on yourself. It's important to keep in mind that there are various types of policies available, meaning you can rest assured there is one that is both affordable and adequate to meet your insurance needs. The best way to shop for a policy is by speaking with a qualified life insurance agent who serves your area. Once you have purchased a policy, you'll then need to make sure that you name a beneficiary. And while this might seem like a given, there are many people are unaware of who their beneficiary is, especially if it has been several years since the policy was purchased. This is why it is imperative for you to review the beneficiary that you have on not only your life insurance policy, but any pensions, 401(k)s, IRAs, etc. Almost any type of life event will change who you want to add or remove as a beneficiary -- marriage, divorce, birth of a child, death of an immediate family member, etc. Take for instance that you get a divorce and marry someone new. You would want to remove your previous spouse as a beneficiary and add your new spouse as well as any new children that you might have had. You might think that it would be better to not name a beneficiary and let the courts handle the distribution of your life insurance policy, but you should realize that the process of going through the courts is a very slow one. With your beneficiaries named, any funds and assets will be distributed much more quickly to the exact people that you intend for them to go to.  
Thomas Joseph
Other articles by: Thomas Joseph
Categories: Fleming Financial Services, Fleming Financial, General Information, Estate Planning, Life Insurance
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