Who gets the IRAs and 401Ks? Though Attorney Barry said an asset review is a crucial part of any estate plan review, financial advisor Tim Suffish, vice president at St. Germain Investments said his firm believes in being even more proactive when it comes to checking beneficiaries. "We make it part of the routine when doing an annual (or semi) review with our clients," Suffish said via e-mail. "Just as we review the economy, the market, their portfolio and their overall financial situation . paying extra attention to where there are changes, i.e. job, retirement, relationships, value of portfolio . we review their beneficiary info on retirement accounts and 'TOD' accounts, to make sure they are as intended and are in sync with their wills and/or trusts." According to Suffish the term TOD "stands for transfer on death." "It is a essentially a beneficiary designation for a taxable (i.e. non retirement) account," he said. "So, similar to a [beneficiary designation] on an IRA, the TOD beneficiary would be considered before the Will." And though Suffish said his firm encourages clients to review their asset distribution annually, he admits that there are clients who will go years without checking the accuracy of their beneficiary information. "At least do it at a significant life event," he urged