Many Americans make this costly 401(k) and IRA mistake — don’t leave a mess for your family

Many Americans risk sending their 401(k) and IRA savings to the wrong heirs. Outdated beneficiary forms override wills and can create tax penalties. Spouses can roll accounts, but children may face forced distributions within 10 years. Review and update your beneficiaries every two to three years. Proper planning prevents disputes, protects inheritances, and maximizes retirement tax benefits.