Developed by Ryan Riggins: Senior Protection Coordinator, Licensed Real Estate Broker, and Estate Transition Specialist
The Beneficiary Designation Audit
Your Will doesn't control everything. Account designations can override your wishes and send your money to the wrong people. This 5-minute audit finds the gaps.
⚠️ Beneficiary designations override Wills in all 50 states
Step 1: Audit Your Accounts
Click each account type to reveal what most families miss — then mark its current status.
Life Insurance Policies
Term, whole life, employer-provided group policies
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Ryan's Pro-Tip
If your ex-spouse is still listed, they get the money — even if your Will says otherwise. I've seen families lose $250,000+ because nobody updated a $30/month policy after a divorce.
401(k) / IRA / Roth IRA
Retirement accounts, employer plans, rollovers
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Ryan's Pro-Tip
SECURE Act 2.0 changed the tax rules for heirs. Non-spouse beneficiaries now must withdraw all funds within 10 years, potentially triggering a massive tax bill. An audit is mandatory every 3-5 years.
Bank Accounts (POD / TOD)
Checking, savings, CDs, money market accounts
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Ryan's Pro-Tip
"Payable on Death" (POD) and "Transfer on Death" (TOD) designations skip probate entirely, saving your family months of legal delays and thousands in attorney fees. But they MUST match your estate plan — otherwise you create conflicts.
Annuities & Pensions
Employer pensions, annuity contracts, survivor benefits
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Ryan's Pro-Tip
Survivor benefits are often "Use it or Lose it." Many pensions require you to elect survivor coverage BEFORE retirement — and the window closes permanently. If you haven't verified your election, do it today.
Step 2: Check for These Critical Mistakes
Check any that apply to your current situation. Even one checked box means your Will can be overridden.
An ex-spouse is still named on any account
Consequence: Ex-spouse receives the full payout regardless of divorce decree or Will
Minor children are named directly as beneficiaries
Consequence: Triggers mandatory court-supervised guardianship. A judge controls the money until age 18, then the child gets it all at once.
"The Estate" is named as beneficiary
Consequence: Forces the account through probate, adds 6-18 months of delays, legal fees, and potentially higher taxes
A special needs beneficiary is named directly
Consequence: Can disqualify them from SSI, Medicaid, and other government benefits they depend on for care
🔧 Ryan's Expert Insight
"As a licensed broker and Senior Protection Coordinator, I see more families lose money to beneficiary errors than to bad real estate deals. A $500,000 life insurance policy going to an ex-spouse. A $200,000 IRA triggering probate because someone wrote 'my estate' on the form 15 years ago. Fix these before you sign a listing agreement — because selling the house doesn't matter if the money disappears into the wrong hands."
— Ryan Riggins, Senior Protection Coordinator