One simple form — one simple line — can make all your client’s best laid plans go awry. It doesn’t matter what his spouse says. It doesn’t matter what his will says. It doesn’t matter what his trustee says.
It doesn’t matter because the beneficiary designation on his life insurance policy, IRA or 401k account trumps them all, says the New York University Law Review in its published report, “Accidental Inheritance: Retirement Accounts and the Hidden Law of Succession.” http://tinyurl.com/lwcd49f