Are You Sure Your Beneficiaries Are Right? Avoid These Blunders

If you’re not careful when filling out your retirement account beneficiary form, you accidentally could cut someone out of their inheritance or start conflicts that can go on for years. It’s essential to be aware of the potential pitfalls of naming beneficiaries to ensure your wishes are followed.

Not Designating a Beneficiary

If you don’t keep your beneficiary designation up to date or fail to name one, the benefits may go to the last beneficiary. This may be an ex-spouse or a previously deceased individual.