What should I do with the beneficiary forms my employer gave me for my 401k if I have a will?

401(k), End of Life
Answers
Sort By:
Most Helpful
November 2015

The short answer: Fill out the form, hand it in, and make sure it's up-to-date if you ever have any life changes.

If someone passed away, "Qualified" assets such as money from a 401k would pass by the beneficiary designation and would not go through the Will. Therefore, you should definitely submit the beneficiary form and list both a primary and contingent beneficiary for your 401k plan. By submitting and maintaining the form, you're helping your heirs avoid unneeded confusion. In addition to the form, you should coordinate with your tax or legal advisor so that the distribution of your 401k is consistent with the overall distribution of your Will.

November 2015
April 2016