For tax-deferred accounts, it is important to name a beneficiary to receive your funds should something happen to you. If you do not, and you died suddenly, the recipients of your money will be determined by a court – and probably after significant expenses have been incurred.
By naming a beneficiary upfront, your funds will go directly to the person you intend upon your passing.
Note: Percentages requested below should sum to 100. For example, if you intend to leave your funds to a single person, then you may enter 100%. If you want to split evenly between two people, each would receive 50%.
Should the primary beneficiaries named above pass away before you, or if your above-named beneficiaries are currently under the age of eighteen, you may also name one or more “contingent” beneficiaries to receive your funds: