When was the last time you checked who’s listed on your beneficiary forms?
For many, the answer is “years ago”—or maybe “never.” Yet beneficiary forms often carry more weight than even the most carefully written will. Why? Because they directly decide where your assets go when the time comes.
We’re constantly reminded of our legacy—family barbecues, vacations, reunions, and storytelling around the fire. We laugh, share memories, and think about the people who matter most. But amid all that joy, a single outdated form could undo years of planning.
So, what matters more than your will? In many cases, it’s these overlooked forms quietly shaping the future.
Why It Matters
Beneficiary designations are deceptively powerful. They override what’s written in a will, and they remain tied to an account no matter how much time has passed. That means a forgotten retirement plan, life insurance policy, or bank account could unintentionally end up in the hands of someone you never intended—like an ex-spouse or estranged relative.
The good news? Preventing that scenario doesn’t require a full overhaul. A five-minute legacy check can make all the difference:
- Review retirement accounts and life insurance policies. Confirm both primary and contingent beneficiaries are up to date.
- Check bank and investment accounts with POD or TOD designations. (POD = Payable on Death, TOD = Transfer on Death). These allow assets to bypass probate and pass directly to your chosen beneficiaries.
- Look at older accounts. Former employers or old institutions may still have outdated information on file.
Think of this like seasonal maintenance for your legacy. Just as you check your tires before a road trip, reviewing these forms helps ensure your intentions travel smoothly into the future.
Common Accounts with Beneficiary Forms
Here are some account types where you may want to double-check and update your beneficiary information:
- Employer-sponsored retirement plans (401(k), 403(b), etc.)
- Individual Retirement Accounts (Traditional or Roth IRAs)
- Life insurance policies
- Annuities
- Bank accounts with Payable on Death (POD) designations
- Investment accounts with Transfer on Death (TOD) designations
- Pension plans or survivor benefits
Moving Forward
Your legacy is about more than wealth—it’s about clarity, intention, and protecting the people you care about most. One quick check today could spare your loved ones from confusion tomorrow.
So, let’s ask the hard question: If your beneficiary forms were pulled up right now, would they reflect your true wishes—or reveal surprises you’d never want your heirs to face?
If you’re unsure, consider setting aside a few minutes to review them. And if you’d like a simple conversation about keeping your legacy intentional, we’d be glad to connect for a complimentary meeting.
We are not affiliated with or endorsed by any government agency, and do not provide tax or legal advice or services.
