1. Designate a family member or friend.
This includes your spouse, domestic partner, child(ren), relatives, or friends. You don’t need to be related to someone to name them as a beneficiary.
However, if you’re married, your spouse is usually entitled to the assets in your 401(k). You can’t choose a different beneficiary unless your spouse waives their inheritance rights. To do that, they can fill out and notarize a spousal consent form from the institution where you have your 401(k). If you name a different beneficiary without getting your spouse’s consent, the court will likely give the asset to your spouse anyway.
