TSP, FEGLI, survivor annuity, and other retirement accounts all carry beneficiary designations that override a will entirely. If those designations are outdated or missing, funds may not go where intended. Estate planning in retirement also includes a will, power of attorney, and healthcare directives, all of which matter as much after a federal career as they did during it.
Video Transcript
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Estate planning is something a lot of people put off, assuming it's something they'll get to eventually. But for federal employees, retirement is exactly when it becomes most important, because the decisions you make now determine what happens to your money later.
Here’s the thing most people don't realize. Your TSP, your FEGLI, your survivor annuity, and any other retirement accounts all have beneficiary designations attached to them, and those designations override your will. If they're outdated or missing, your money may not go where you intend.
Estate planning also covers your will, power of attorney, and healthcare directives, which matter just as much in retirement as they did during your career. Getting your beneficiary designations and documents in order before you retire, rather than assuming your will covers everything, is one of the most straightforward ways to protect what you've built.
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