Charity and the Kids
One of the really amazing things about retirement accounts is that you can name any beneficiary you want for the account and that person or trust or organization gets the money after you pass, no matter what. Retirement accounts are not controlled by the probate process and your will. If properly managed, this can work great; if not, it can be a disaster. It largely depends on whether your beneficiary designations are up-to-date. The two most common places people want their money to go are, of course, to their kids and family or to a charity.
You need to put some deliberate thought into choosing the person or organization you write on the beneficiary form for your retirement accounts. Remember these ...