Planning Ahead: Have You Chosen Your Beneficiaries?
It's tempting to put off until tomorrow some of the important decisions about what happens to your retirement assets when you die. But it pays to plan ahead, especially for accounts that aren't transferred by will or trust. Start here: Make sure there are designated beneficiaries for any retirement savings plans and pensions you own or may be entitled to.
Perhaps you have taken care of some of those concerns already, with a will or by setting up power of attorney. But there's something else you should do: make sure you have named beneficiaries for any retirement savings plans, pensions, and insurance products you may own or be entitled to.
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Source: Fool.com