What happens if my retirement beneficiary form is outdated?

The plan document and current designation may control, which can produce an unintended payment after divorce, remarriage, or death. In the estate planning context, beneficiary designations usually control life insurance, retirement accounts, and payable on death accounts, even when a will says something different. In the estate planning context, forms should be reviewed after family changes and should include appropriate contingent beneficiaries. State law and the account documents can change the outcome, so it is worth getting a qualified professional to check the facts before taking action.