If you have an IRA account, 401(k), or annuity, take a minute to consider who the beneficiary of your account(s) is. While this may be an easy answer for some, others may not be exactly sure of who, if anyone, is named as beneficiary on these important accounts. Whether you are aware of who your named beneficiaries are or not, it is important to review these designations periodically. You may have opened your first IRA or 401(k) many years ago when your life was different. An obvious beneficiary choice twenty years ago may not be your first choice today. A recent article suggests reviewing your beneficiary designations annually. Even if your life circumstances have not drastically changed, companies that manage IRAs and similar accounts are apt to change plan custodians and insurance providers. It is common for paperwork to get lost when companies make even minor changes. If your beneficiary designation is lost, your assets will go to the default beneficiary. The default beneficiary may not be the person you would have selected. If you would like expert assistance with reviewing the beneficiaries of your various accounts, or for any other estate planning questions, call us at 818.956.9200.