If you hold a 401(k), an IRA, a brokerage account or a life insurance policy, a form you filled out years ago probably decides who gets that money, and your will probably does not. That is why the end of the year is a good moment to check them. The review takes an hour, and it is one of the few money tasks where a stale piece of paper can send six figures to the wrong person.
This is a decision piece. It covers which document wins, what the choice of beneficiary costs your heirs in tax, and a checklist you can finish before December 31. It is general information, not legal advice, and state law varies.
