Get the free Beneficiary Designation Form - University of Hawaii - hawaii

The State of Hawaii Island savings Plan Beneficiary Designation Form Please print or type the following information: Name Social Security Number Howie Long 123-45-6789 Address Home Telephone Number

How to fill out beneficiary designation form

How to fill out a beneficiary designation form:

1. Begin by obtaining the beneficiary designation form. You can typically obtain this form from your financial institution or insurance provider.
2. Write your full legal name and contact information, including your address, phone number, and email address, at the top of the form.
3. Indicate the account or policy you are designating a beneficiary for. This could be a retirement account, life insurance policy, or any other type of account that requires a beneficiary designation.
4. Provide the full legal name, relationship to you, and contact information of the primary beneficiary. The primary beneficiary is the person who will receive the assets or benefits in the event of your death.
5. If you wish to designate a contingent beneficiary, who will receive the assets or benefits if the primary beneficiary is unable to do so, provide their full legal name, relationship to you, and contact information as well.
6. Specify the percentage or portion of the assets or benefits that each beneficiary should receive. Be sure that the total percentage or portion designations add up to 100%.
7. Sign and date the beneficiary designation form. Some forms may require a witness or notary signature as well.
8. Finally, submit the completed form to your financial institution or insurance provider as instructed. Keep a copy of the completed form for your records.

Who needs a beneficiary designation form:

1. Individuals who have retirement accounts, such as IRAs or 401(k)s, may need a beneficiary designation form. This ensures that their assets are distributed, according to their wishes, to their chosen beneficiaries upon their death.
2. Individuals who have life insurance policies may also need a beneficiary designation form. This ensures that the life insurance benefits are paid out to their chosen beneficiaries after they pass away.
3. Some financial institutions may require a beneficiary designation form for certain investment or savings accounts. This ensures that the account holder's assets are distributed to their desired recipients upon their death.
4. It is important to note that while not everyone may need a beneficiary designation form, it is highly recommended to have one in place to ensure that your assets are distributed according to your wishes and to avoid potential disputes or complications after your passing.

For pdfFiller’s FAQs

What is beneficiary designation form?

A beneficiary designation form is a legal document that allows an individual to designate who will receive certain assets or benefits upon their death.

Who is required to file beneficiary designation form?

Anyone who wants to designate beneficiaries for their assets or benefits upon their death is required to file a beneficiary designation form.

How to fill out beneficiary designation form?

To fill out a beneficiary designation form, you generally need to provide your personal information, such as your name, contact details, and social security number, as well as the information of the designated beneficiaries.

What is the purpose of beneficiary designation form?

The purpose of a beneficiary designation form is to ensure that the assets or benefits of an individual are distributed according to their desired wishes after their death.

What information must be reported on beneficiary designation form?

The information typically reported on a beneficiary designation form includes the names, contact details, and relationship of the beneficiaries, as well as the specific assets or benefits to be designated to each beneficiary.

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