You’ve done the responsible thing. You’ve filled out the paperwork for your life insurance, your 401(k), and your IRA, carefully naming the people you want to receive these assets when you’re gone. You file the documents away, confident that your wishes are set in stone. But a beneficiary designation is not always a permanent declaration. A number of life events, legal doctrines, and even obscure company policies can automatically override your stated choices. The scary reality is that in many situations, beneficiaries are being reassigned without any direct action or consent from you, and your money could end up in the wrong hands.
Here are six ways your chosen beneficiaries can be changed right under your nose.
