Most consumers are familiar with the beneficiary designation form they complete when opening an IRA or 401(k). The form designates who receives the asset if the account owner dies. Yet ...

Designations are made by assigning a percentage of assets to the beneficiary or successor using a form that is entirely separate from your will or living trust. Designations come in several forms ...

such as the beneficiary designation form and the plan's terms and conditions. “When the primary 401(k) holder passes away, the beneficiary should contact the plan administrator to begin ...

Many assets pass by beneficiary designation — which is the ability to fill out a form with the financial company holding the asset and name who will inherit the asset upon your death.

I have substantial IRA’s, annuities and life insurance which have beneficiary designations and want to make sure they are distributed the way my will provides. Do I need to do something extra?

Your beneficiary designation takes precedence over any instructions ... your spouse becomes the 401(k)'s beneficiary unless they sign a consent form. If you fail to designate a 401(k) beneficiary ...