Beneficiary Designations

Why Beneficiary Designations Matter

Beneficiary designations control transfer for many assets, including retirement accounts and life insurance.

In many cases, the beneficiary form controls the transfer even if a will says something different.

Accounts Commonly Controlled by Beneficiary Form

• IRA and 401(k) accounts
• Life insurance policies
• Annuities
• Transfer-on-death and payable-on-death accounts

Common Mistakes

• Ex-spouse still listed
• No contingent beneficiary listed
• Designations not coordinated with trust strategy
• Inconsistent percentages across accounts

Good Review Practice

• Review designations after major life events
• Coordinate designations with your estate attorney and financial advisor
• Keep primary and contingent beneficiaries current

Educational note: this module is general information, not legal or tax advice.