Get the free Bene ciary Designati on Form

Beneficiary Designation Form Please mail or fax completed forms to: Address: HealthEquity, Attn: Member Services 15 W Scenic Point Dr, Ste 400 Draper, UT 84020 Fax: 801.727.1005 Complete this information

How to fill out bene ciary designati on

How to fill out beneficiary designation:

1. Obtain the necessary forms: Contact the institution or organization managing the account, policy, or plan for which you wish to designate a beneficiary. Request the beneficiary designation form, which may also be available online.
2. Provide personal information: Fill out your personal information accurately on the form, including your full name, address, and contact details.
3. Specify the beneficiary: Indicate the full legal name and contact details of the individual or organization you wish to designate as the beneficiary. If there are multiple beneficiaries, clearly state the percentage or share each should receive.
4. Be specific: Provide as much detail as possible regarding the beneficiary's relationship to you, such as spouse, child, sibling, etc. This can help prevent any confusion or disputes in the future.
5. Contingent beneficiaries: Consider naming contingent beneficiaries. These individuals or organizations will receive the assets if the primary beneficiary predeceases you or is unable to accept the assets.
6. Seek legal advice if necessary: If you have complex estate planning needs or if you are unsure about the beneficiary designation process, it is wise to consult with an attorney who specializes in estate planning.
7. Review and sign: Carefully review all the information you have provided on the beneficiary designation form. Once you are satisfied, sign and date the form.
8. Submit the form: Return the completed form to the institution or organization that provided it. Follow any additional instructions they may have, such as submitting a notarized copy if required.

Who needs beneficiary designation?

1. Individuals with life insurance policies: Designating a beneficiary is crucial when it comes to life insurance policies. It ensures that the designated person or entity receives the death benefit in the event of the insured person's passing.
2. Retirement account holders: If you have a 401(k), IRA, or another type of retirement account, you must name a beneficiary. This designation determines who will inherit the remaining funds in your retirement account after your death.
3. Owners of investment accounts: People who have investment accounts, such as brokerage or mutual fund accounts, also need to designate beneficiaries. This ensures that the assets in these accounts transfer smoothly to the intended beneficiaries upon the account owner's death.
4. Estate planning purposes: Beneficiary designations are an essential part of estate planning. They can help individuals specify how their assets should be distributed, avoid probate, and ensure their wishes are carried out efficiently.

Note: It is important to regularly review and update beneficiary designations to keep them in line with your current circumstances, especially after major life events such as marriage, divorce, birth, or death in the family.

For pdfFiller’s FAQs

What is bene ciary designation?

Beneficiary designation is the process of specifying who will receive the proceeds of a life insurance policy, retirement account, or other financial assets upon the death of the account holder or policyholder.

Who is required to file beneficiary designation?

Any individual who has a life insurance policy, retirement account, or other financial assets that allow for beneficiary designation is required to file beneficiary designation.

How to fill out beneficiary designation?

To fill out beneficiary designation, the individual must contact their financial institution or insurance company and request the appropriate forms. They will need to provide the name, date of birth, relationship, and contact information of the beneficiary.

What is the purpose of beneficiary designation?

The purpose of beneficiary designation is to ensure that the assets are distributed according to the account holder's or policyholder's wishes after their death, without going through probate.

What information must be reported on beneficiary designation?

The information that must be reported on beneficiary designation includes the name, date of birth, relationship, and contact information of the beneficiary.

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