Many people spend years building their nest egg but forget one small form that could undo it all: the beneficiary designation. A single outdated name on your IRA or 401(k) can send your life savings to the wrong person, even if your will says otherwise. You should know that retirement accounts follow their own rules, and do not follow your will. For this reason, it’s possible to disinherit the people you meant to protect. Here’s why you need to review your beneficiary designations and ensure your retire ...

According to Northwestern Mutual, $90 trillion will transfer to younger generations in the coming years [1]. Must Read That's a lot of money and it will be important for those who receive a share of it to make smart choices. According to the survey, among those expecting to receive an inheritance, half (50%) consider it "highly critical" or "critical" to their long-term financial security. Rebecca, 40, says she has inherited $3 million in stocks and $250,000 in cash, and has a $100,000 mortgage and $25, ...