Beneficiary designations on retirement accounts, life insurance, and payable-on-death accounts override wills in determining inheritance. Many fail to update these forms, causing unintended outcomes. Over $49 trillion in U.S. retirement accounts bypass wills, passing directly to named beneficiaries. If a primary beneficiary dies without a contingent named, funds enter probate. Regularly updating beneficiary forms after major life events is crucial to ensure assets go to intended heirs.