The Scary Stuff Worth Checking
Not ghosts. Just the paperwork nobody’s looked at in years.
Halloween is about ten days away, and the candy is already in my house, which means the real question is whether any of it makes it to the 31st. It’s a good time of year. It’s also the one stretch of fall where being a little unsettled is the point.
Which got me thinking about the things in financial planning that are genuinely a little unsettling. Not in a seasonal way, but in a “when did I last actually look at this” way. Beneficiary designations. Power of attorney documents. Whether the estate plan someone built ten years ago still reflects the life they’re living now. These rarely come up unless something forces them to, and by then it’s usually not a great time to be sorting them out.
October is a good month for a quiet audit, before the holidays put everyone in the same room anyway:
- Beneficiary designations generally take priority over a will. For most retirement accounts and life insurance policies, the name on the form is who receives the asset, even if the will says something different. That’s how an account can end up with an ex-spouse, a sibling named before kids came along, or someone who has since passed away. Federal law also gives spouses specific rights in many employer plans, so the details matter. These forms are worth a look after any major life change.
- A power of attorney is only useful if someone can find it. If something happened tomorrow, would the people who’d need to act know a POA exists, where it is, and that it’s still current? A document from a decade ago may name someone who is no longer the right choice, or no longer reachable.
- “We have an estate plan” and “our estate plan reflects our life right now” are two different sentences. A plan built before a second child, a business sale, a move, or a significant change in assets may still exist. It just may not do what everyone assumes it does anymore.
Two dates are also on the calendar this month, especially if a parent or family member is on Medicare:
- Medicare open enrollment is underway, through December 7. It’s the annual window to review or change Medicare Advantage and Part D drug plans, and whatever is chosen takes effect January 1. Higher-income enrollees also pay an income-related surcharge on Part B and Part D premiums, based on tax return income from two years earlier.[1]
- Social Security’s 2027 cost-of-living adjustment is 3.6%. Announced October 14, it’s the largest increase since 2023 and takes effect with January benefits, about $75 a month on average. Part B premiums are typically deducted from Social Security checks, and the 2027 premium hasn’t been finalized yet.[2]
None of this needs to be resolved this week. But it’s much easier to look at calmly in October than to discover mid-conversation at Thanksgiving.
This is a slightly different kind of newsletter than usual, less about a deadline and more about the things that are easy to put off because nothing is forcing the issue. Those are usually the ones most worth a second look.
If it’s been a while since you looked at any of this (a beneficiary form, a POA, the actual language of your estate plan), this is a good month for a conversation. No deadline attached.
Schedule time to talk through your ClearPath Plan → Schedule with Bob
And if everything here is already current and accounted for, good. That’s worth knowing for certain, not just assuming.
Enjoy the rest of the season.
Warmly,
Bob
[1] Kiplinger, “Your 2027 Medicare Open Enrollment Guide: Essential Dates and Notices” — kiplinger.com/retirement/medicare/2027-medicare-open-enrollment-guide-dates-and-notices; Medicare.gov, “How income affects your Medicare drug coverage premiums” — medicare.gov/publications/11469-income-and-drug-premiums.pdf
[2] Social Security Administration, “Social Security Announces 3.6 Percent Benefit Increase for 2027,” October 14, 2026 — ssa.gov/news/en/press/releases/2026-10-14.html
This content is for informational purposes only and is not legal or tax advice. Please consult your attorney or tax professional about your situation.
Investment advice offered through Global Retirement Partners, LLC a registered investment advisor. Securities offered through LPL Financial, member FINRA/SIPC. Global Retirement Partners, LLC and FRS Capital Management are separate entities from LPL Financial.
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