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Santa Ana
CA
92705

(888) 354-6228

Orange County Credit Union provides a broad range of banking products and services like checking, savings, loans, and investments for every season of life. Through our blog, our aim is to equip readers with helpful advice that will enable them to reach financial goals.

3 QUESTIONS TO ASK WHEN DESIGNATING BENEFICIARIES

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Welcome to the Orange County's Credit Union blog - Simple Banking.  It’s been said, that people who bank at credit unions feel financially empowered. Whether it’s one-on-one conversations or free financial educational workshops, at the Credit Union, we’re with you all the way.

We put people first. We’re here to listen. To answer your questions. To provide you with the information you need and to help you make informed decisions. We won’t try to sell you something you don’t need. 

It’s about what’s in your best interest.

Anyone who lives or works in Orange County, Riverside County & the neighboring communities of Long Beach, Lakewood, Cerritos, or Signal Hill, CA can bank with us. Membership is $5. Federally insured by NCUA

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3 QUESTIONS TO ASK WHEN DESIGNATING BENEFICIARIES

Sandra Diaz

When’s the last time you did a beneficiary audit of your retirement and investment accounts? By designating beneficiaries, you’re taking the first step to reduce the risk of your retirement and investment accounts being processed through probate court to settle your estate. Probate can drag on for months or years, and the process can eat away 5% or more of an estate's value.

That’s why taking important steps now, whether to designate a beneficiary or simply review your current status, can help your financial future. When partnering with your financial consultant, you’ll review the following questions to help ensure that you are on the path to achieve your important legacy goals.

  1. Have you experienced life transitions — marriage, divorce, birth of a child, death of a spouse — since you last designated account beneficiaries?
  2. Are the beneficiary designations on your retirement and other investment accounts up to date?
  3. Are you sure that your retirement and investment assets will pass to the heirs of your choice with as little tax impact as possible upon your death?

Your financial consultant can help you evaluate your options and make sound decisions. Together, you’ll take inventory of all your accounts and their respective beneficiaries. And remember, consultations are always complimentary.

Let’s get started! Contact us at (888) 354-6228 ext. 7599 or email us at OCRIS@orangecountyscu.org.

Not NCUA Insured Not Credit Union Guaranteed May Lose Value

Financial Consultants are registered with and securities and investment advisory services offered through LPL Financial and Registered Investment Advisor. Member FINRA/SIPC. Orange County's Credit Union and Orange County's Retirement & Investment Services are not registered broker/dealers and are not affiliated with LPL Financial.