BOSTON (TheStreet) -- Reviewing legal terms can be as exciting as watching paint dry, but when it comes to your estate plan, thoroughness trumps entertainment value. Despite the tediousness of the task, making the extra effort is well worth it and will help ensure that your hard-earned savings end up where you want them.Take, for example, the way in which you list beneficiary designations on your IRAs and qualified retirements plans. The beneficiary designations of these accounts are generally not governed by provisions of your will, so it's important that you review them regularly. If you have multiple beneficiaries, it's also essential to be familiar with the terms "per capita" and "per stirpes."
|Determine your beneficiaries wrong and your grandchildren may get no money at all when you die -- or perhaps so much that you're shortchanging your children.|
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