Can a notarized form override an old beneficiary designation? | NC

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Q: Can a notarized form or paperwork to send a lump sum to our joint bank account override an old beneficiary designation? A: Usually, no...for pension and retirement lump sums, the plan typically pays the person listed on the beneficiary designation on file, based on the plan documents, not based on where someone asked the money to be deposited. A notarized paper can matter only if it is…