how difficult is it to designate a beneficiary 
it s not difficult at all once you ve decided on who your beneficiary or beneficiaries should be designating beneficiaries for your financial accounts involves providing the names social security numbers and perhaps other specifics on a form when you open your account if your accounts have already been opened simply request the appropriate form for designating beneficiaries fill it out and return it to your financial institution who can change the beneficiary on a life insurance policy in the case of a life insurance policy that has one or more revocable beneficiaries the owner of the policy can change the beneficiary designations at any time this is something that may be necessary if a beneficiary passes away or if the primary beneficiary is a spouse and the marriage ends in divorce if irrevocable beneficiaries are named to a life insurance policy then the policy owner would need the consent of the beneficiary and any contingent beneficiaries to make a change for that reason it s important to think carefully when choosing policy beneficiaries the bottom lineif you care about the dispensation of your financial assets after you re gone then choosing beneficiaries for your financial accounts should be a priority by designating beneficiaries you can ensure that your property winds up in the right hands 