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This form is used by federal employees to designate a beneficiary to receive any lump-sum benefits payable under the Federal Employees' Retirement System (FERS) after their death.

How to fill out designation of beneficiary

How to fill out Designation of Beneficiary

1. Obtain a Designation of Beneficiary form from the relevant institution or organization.
2. Locate the section of the form where you need to provide your information as the policyholder.
3. Fill in your name, address, and any required identification numbers.
4. Specify the name or names of the beneficiaries you wish to designate.
5. Provide any additional information requested for each beneficiary, such as their relationship to you or percentage of benefit.
6. Ensure all beneficiaries are clearly defined to avoid any confusion.
7. Review the completed form for accuracy and completeness.
8. Sign and date the form as required to validate your designation.
9. Submit the completed form to the relevant institution or organization, keeping a copy for your records.

Who needs Designation of Beneficiary?

1. Individuals with life insurance policies.
2. Retirement account holders, such as IRAs or 401(k)s.
3. People setting up health savings accounts (HSAs).
4. Owners of certain financial accounts allowing beneficiary designations.
5. Anyone wishing to ensure their assets are distributed according to their wishes upon their passing.

People Also Ask about

What are beneficiary designations examples?

Beneficiary designations are commonly used with life insurance policies, IRAs, 401(k)s, and other types of accounts with death benefits. For example, you may set up a life insurance policy to name your spouse as your primary beneficiary, with your kids as equal contingent beneficiaries if your spouse predeceases you.

What is the designation of a beneficiary?

Provide the following information on the beneficiary designation: The full name of the trust as it shows on the trust document. The date the trust was created. The name of the trustee, followed by the word “trustee”, or if you cannot provide a trustee, ETF may accept another contact person. The trustee's address.

How do I fill out a beneficiary designation?

Most beneficiary designations will require you to provide a person's full legal name and their relationship to you (spouse, child, mother, etc.). Some beneficiary designations also include information like mailing address, email, phone number, date of birth and Social Security number.

Should my child be primary or contingent beneficiary?

Do you have a contingent beneficiary in mind if you decide to name your child/children as your primary beneficiaries? Remember that you always want to name contingent beneficiaries so your estate isn't tied up in probate if your primary beneficiary isn't able to receive assets for any reason.

How to fill out a beneficiary designation form?

What is a beneficiary designation? In estate planning, a beneficiary is any person or entity you designate to receive an asset after you're gone. Naming beneficiaries is an integral part of several different estate planning elements, including: A will.

Who should I not name as a beneficiary?

Estranged relatives or former spouses – Family relationships can be complicated, so think carefully if an estranged relative or ex-spouse really aligns with your wishes. Pets – Pets can't legally own property, so naming them directly as beneficiaries is problematic.

For pdfFiller’s FAQs

What is Designation of Beneficiary?

A Designation of Beneficiary is a legal document that allows an individual to specify who will receive their assets, benefits, or property upon their death.

Who is required to file Designation of Beneficiary?

Typically, individuals who have life insurance policies, retirement accounts, or other financial assets that require a beneficiary designation are required to file a Designation of Beneficiary.

How to fill out Designation of Beneficiary?

To fill out a Designation of Beneficiary, you must provide your personal information, specify the beneficiaries' names and relationships to you, and ensure each beneficiary is clearly defined (e.g., percentage shares if applicable).

What is the purpose of Designation of Beneficiary?

The purpose of a Designation of Beneficiary is to ensure that the designated individuals receive the specified assets directly, bypassing the probate process.

What information must be reported on Designation of Beneficiary?

The information that must be reported includes the name of the policyholder, the name(s) of the beneficiary(ies), their relationships to the policyholder, and any applicable percentages or conditions for distribution.