When was the last time you reviewed your beneficiaries on your retirement accounts and life insurance policies?
Most people did it once, when they opened the account, and never thought about it again.
Then life changed. Marriage, divorce, kids, whatever. The form didn’t keep up.
Here’s why it matters: your beneficiary designations override your will. If your 401(k) still names your ex, your ex gets the money. It doesn’t matter what your other documents say.
This is a ten-minute fix. Log in to your accounts, check the names, update what’s out of date. Name a contingent beneficiary too, someone who gets it if your first choice can’t.
Do it once, and you’re done until the next big life change.
