Let’s be real—admin tasks like updating beneficiaries and insurance info don’t exactly scream “empowerment.”

But they should.

Because this 15-minute review?
 It protects your loved ones, your hard-earned assets, and your long-term goals.

At PowHERhouse Money Coaching, we help women take control of their money habits, mindset, and goals—but when it comes to optimizing your financial protections and paperwork, that’s where our sister company, Wilcox Financial Group, steps in.

If your life has evolved, your paperwork should too. Let’s walk through what to check, why it matters, and how to take action—today.

What Are Beneficiaries, Really?

Your beneficiary is the person (or people) who receive your money when you pass away—from retirement accounts to life insurance to bank funds.

You likely named someone when you opened the account. But if that was 2 apartments, 3 relationships, and one LLC ago… it’s probably time to revisit it.

 

What Needs a Quick Review

Here’s a shortlist of what to check:

  • Retirement accounts (401k, 403b, Roth IRA, SEP, etc.)
  • Life insurance policies (personal or through work)
  • Health Savings Accounts (HSAs)
  • Investment accounts
  • Bank accounts with Payable-on-Death (POD) designations
  • Business agreements with partners or co-owners

💡 Pro tip: This info overrides your will. So even if your will is up-to-date, your beneficiary designations control the outcome.

When to Update Your Beneficiaries

Ask yourself:

  • Have you gone through a divorce or breakup?
  • Did you get married or start a new long-term relationship?
  • Do you have children—or new nieces, nephews, or godchildren?
  • Have you changed business partners?
  • Do you want to support a specific cause, foundation, or friend?

If yes to any of the above—it’s time for a refresh.

 

A Real-World Example

One client came to us assuming her business partner would be taken care of if something happened to her. Turns out, her ex was still listed on several major accounts.

🤯 One quick review prevented a massive financial mess—and brought major peace of mind.

 

How to Update Your Info

It’s easier than you think:

  1. Log into your retirement, banking, or insurance portals
  2. Locate “Beneficiaries” or “Payable-on-Death” settings
  3. Add or update the appropriate people
  4. Double-check contact info and percentages
  5. Save and confirm

Boom. You’re done.

✨ Want to go next-level? Store updated copies of your policies and beneficiary forms in a password-protected folder, and let a trusted person know where to find them.

 

Don’t Forget Insurance

Your life changes. Your coverage should too.

When to revisit:

  • You had a baby or adopted a child
  • Your income or business revenue has grown
  • You bought a home or took on new debt
  • You went through a separation
  • You started supporting a loved one financially

It’s not just about life insurance. Health, disability, and business policies matter too.

 

Need Help With the Details?

At Wilcox Financial Group, our team offers expert guidance to help you:

  • Assess your current insurance coverage

  • Make confident decisions that align with your future

📞 Call us at (716) 906-3175 or visit www.wilcoxfinancialgroup.com to schedule your free discovery call.

You’ve worked hard to build your life. Let’s make sure it’s protected—with the right names on the right forms.