Do you remember the last time you checked the beneficiary designations on your retirement accounts? Better yet, do you remember who is presently listed? If you answered yes to either question, you’re a step ahead of many. If you answered no, it is time for a beneficiary designation review.
Your retirement account beneficiary designations are powerful. They are legally binding and supersede your will and trust instructions. For that reason, ensuring your beneficiaries are correct and up-to-date is the best way to be certain your retirement assets are distributed exactly as you wish at the time of your passing.