Estate Planning – Your Beneficiaries
Items like your TSP, life insurance, and Federal pension should all have a beneficiary named; usually you have done this when first employed. If you do not name a beneficiary on these accounts, it will follow the Standard Order of Precedence and will go through probate. Make sure to update your beneficiaries on these accounts to ensure your wishes are carried out. Many people update their wills after life events but forget to update their beneficiaries. If you are not sure who is named, you can submit a new form; the most recent form is what counts.