A beneficiary is someone who receives a financial asset that was once owned by someone else. Choosing beneficiaries helps ...

To designate a new beneficiary, simply request a beneficiary form from your 401(k) administrator. Completing and submitting the form successfully changes your 401(k)'s beneficiary. You should ...

such as the beneficiary designation form and the plan's terms and conditions. “When the primary 401(k) holder passes away, the beneficiary should contact the plan administrator to begin ...

Many assets pass by beneficiary designation — which is the ability to fill out a form with the financial company holding the asset and name who will inherit the asset upon your death.