Episode
5 Beneficiary Designation Mistakes That Can Wreck Your Estate Plan
- Published
- Apr 29, 2026
- Duration seconds
- 611
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Summary
You spent thousands on an estate plan . You signed the will . You funded the trust. And none of it may matter because a beneficiary form you filled out 15 years ago when you started a new job could override everything. Beneficiary designations on retirement accounts , life insurance policies, and payable-on-death bank accounts are legally binding contracts. They operate entirely outside your will and trust . When these forms are outdated, incomplete, or misaligned with the rest of your plan, the result can be assets going to an ex-spouse, a child being accidentally disinherited, or a six-figure tax bill no one saw coming. According to Caring.com’s 2025 estate planning survey , only 24% of American adults have a will — down from 33% in 2022. But even among the minority who do plan, beneficiary designation errors remain one of the most common and costly oversights. Here are five mistakes you need to avoid.