Beneficiary checklist

Check life insurance, workplace retirement plans, IRAs, pensions, bank accounts with payable-on-death options, and investment accounts with transfer-on-death options. Availability varies by provider and state.

Ask each provider who is currently named to receive the money. Check names and contact details directly with that provider, not here.

A contingent beneficiary is your backup if the first-choice person cannot receive the money. Ask the provider how its backup rules work.

If you name more than one person, check that the shares add up to 100%. Workplace retirement plans may protect a spouse and require the spouse’s written consent to name someone else. A divorce order may also affect the choice.

Leaving money directly to a minor or someone receiving needs-based benefits can create problems. Do not automatically name a trust or assume this app’s generic trust solves the problem. Get qualified guidance before changing these choices.

Use the insurer, employer plan, bank, or investment provider’s own process. Checking a box here, writing a will, or saving a copy in the vault does not update a beneficiary.

Confirm the provider accepted the change. Keep its confirmation safely and tell a trusted person where to find it. Do not share account passwords or Social Security numbers.

Recheck after a marriage, divorce, birth, death, or major change in your wishes. A will generally does not override a valid beneficiary designation, but law and plan terms can affect the result.