Here is some DC advice that you should take seriously!

How your 401(k) could disinherit your kids http://on.mktw.net/1h9oTD5  via @MarketWatch

The above Tweet caught my attention earlier today.  I hope that you’ll take a few moments to read the article.  The advice that they give is critically important.  KCS partner, Dave Murray, experienced this issue while working with one of his clients.  In Dave’s case, a young woman, with a decent-sized DC plan balance passed away.  Her parents assumed that they would inherit her plan balance, but unfortunately years before she had designated a boy friend as her beneficiary.  Despite the fact that this young man was no longer in the picture, the plan document superseded her will, and he was given the proceeds. 

Given the serious consequences that this lapse can create, we’d recommend that you review your designated beneficiary(ies) annually.