Take a Fresh Look at Your Account Titles and Beneficiaries
February 24, 2026
Estate planning is often thought of in terms of wills and trusts, but some of the most important decisions are overlooked, such as how your accounts are titled and who is listed as the beneficiary. These details are easy to miss and often left unchanged for years, yet they play a critical role in how assets are transferred, how smoothly an estate is administered, and whether your overall plan works as intended.
As we move into 2026, it is worth taking a fresh look at account titling and beneficiary designations, especially for families who have experienced life changes or accumulated more complex wealth over time.
Beneficiary Designations
A beneficiary designation is a simple instruction that directs a financial institution to transfer an account to a specific individual or individuals at death. These designations apply to many significant assets, including:
- Retirement accounts such as IRAs, 401(k)s, and 403(b)s
- Life insurance policies
- Annuities
What many do not realize is that beneficiary designations typically override the instructions in a will. Even the most thoughtfully drafted estate plan can be unintentionally undermined if beneficiary forms are outdated or inconsistent.
Common issues we see include former spouses still listed as beneficiaries, missing contingent beneficiaries, and account distributions that no longer reflect family intentions. When beneficiary designations are properly coordinated, assets generally transfer efficiently, often without probate, and in alignment with the broader estate plan.
Account Titling
How an account is titled determines who owns it today and how it transfers in the future. This legal distinction is often underestimated but can have meaningful consequences.
Some of the most common titling options include:
Individual Accounts Assets titled solely in your name generally pass according to your will or trust, assuming there is no specific beneficiary designation. These accounts are subject to probate but often provide clarity and control when coordinated correctly with an estate plan.
Payable on Death (POD) or Transfer on Death (TOD) These designations allow assets to pass directly to named beneficiaries and avoid probate. This titling works exactly like the designated beneficiary on a retirement account, bypassing a will. They can be useful in simpler estates or when efficiency is a priority, but they must be coordinated carefully with the rest of the plan.
Joint Tenants with Rights of Survivorship (JTWROS) This is the most common structure for couples and allows assets to pass automatically to the surviving owner. While commonly used by spouses, joint titling can create issues when used with non-spouses, including unintended gifts or the exclusion of other heirs.
Tenants in Common Often more appropriate when multiple owners have separate estate plans or unequal ownership interests. When one owner dies, their share passes according to their individual estate plan rather than automatically to the other owners.
Convenience Accounts Available in certain states, these accounts allow a trusted individual to assist with finances without granting ownership or inheritance rights. They can be effective when help is needed, but long-term control should remain unchanged.
Each option has benefits and tradeoffs, depending on family dynamics and overall planning goals.
Account titles and beneficiary designations should never be considered permanent. They should be reviewed whenever there is a significant life event, including marriage, divorce, the birth of a child or grandchild, or the death of a loved one. Changes in wealth, tax laws, or estate planning strategies also warrant a review.
Even without major life changes, revisiting these details every few years can help identify inconsistencies before they create complications.
Effective wealth planning is not just about sophisticated strategies. It is about ensuring that every detail works together. Properly aligned account titling and beneficiary designations help reduce administrative complexity, avoid unintended distributions, and provide clarity and peace of mind for families.
These are small decisions that can have an outsized impact. Make it a priority to review your account titles and beneficiary forms. It is important to speak with your advisor or attorney to ensure everything is coordinated and up to date. By taking this proactive step, you can help keep your estate plan on track in 2026 and beyond.
By,
Susie McLane
Managing Director, Senior Wealth Advisor