Designating beneficiaries can be, well, morbid. But it's a really important step when you have financial assets. Our quiz takes a light-hearted spin on things, using tv characters for the scenarios. And don't worry about spoiler alerts, the scenarios are fictional as well. Ready? Give it a try! George is single. He wants to designate his favorite charity, the Human Fund, as the beneficiary of his account. Can he do that? Deselect Answer Yes, charities can be beneficiaries of Workplace Retirement Plans. No, a beneficiary needs to be a person. None Mike and Carole are married; it's the second marriage for both. As much as Mike loves Carole and her three lovely girls, he wants to designate his three boys to receive his 401(k). Can he do that? Deselect Answer No. The account needs to go to his wife because he's married. No. The account automatically defaults to Alice as she's known Mike the longest. Yes. As long as Carole approves. None Rebecca wants to include her three adult children as beneficiaries. Randall, Kevin, and Kate also have children. How can Rebecca designate her beneficiaries to ensure that her grandchildren would receive a portion of the account if their parent passed away prior to Rebecca? Deselect Answer Rebecca should indicate Per Capita on her beneficiary designation. Rebecca should indicate Per Stirpes on her beneficiary designation. Rebecca should sit down with her children and let them know her preferences. None Please type the characters below. 1 out of 2 The most important quiz question: Do you have your beneficiaries established? If you answered no, it's time to change that! After logging into your account, select My Profile then Beneficiaries. Time's up
