Masuda Funai is proud to announce that one of its experienced employment and employee benefits attorneys, Frank Del Barto, has been quoted in a recent article published in The Wall Street Journal. The article, titled "Your Will Alone Won’t Guarantee Your Money Goes to Your Heirs," highlights the importance of beneficiary forms for retirement accounts, life insurance, and various financial assets.
In the article, Frank emphasizes the critical role that beneficiary forms play in employee benefits and estate planning. He provides valuable insights into the potential pitfalls and complications that can arise when these forms are not carefully considered and aligned with one's estate plan, especially involving a company’s 401(k) retirement plan.
According to Frank, "At the end of the day, you've got to ensure that the beneficiary forms match your intent and your estate plan." He explains that discrepancies between beneficiary forms and a person's estate plan can lead to unintended consequences, including disputes, legal battles, and assets ending up with unintended beneficiaries. Frank noted that the hardest part of his job is writing benefit denial letters on behalf of 401(k) plan sponsors that inform children and parents that they are not legally entitled their loved one’s 401(k) account balance.
Masuda Funai extends its congratulations to Frank Del Barto for his valuable contributions to this important discussion in The Wall Street Journal. His dedication to advising clients on 401(k) and life-insurance benefits demonstrates the Firm's commitment to providing expert legal counsel in the field of employee benefits.
For more information or to seek expert legal advice, please contact Principal Frank Del Barto or any other member of Masuda Funai’s Employment, Labor and Benefits Group.