Get the free Beneficiary Designation Form

This document allows an employee to designate beneficiaries for their final salary and personal belongings in the event of their death while employed by the City of Dallas.

How to fill out beneficiary designation form

How to fill out Beneficiary Designation Form

1. Obtain a copy of the Beneficiary Designation Form from your financial institution or insurance provider.
2. Read the instructions carefully to understand the requirements for completing the form.
3. Fill in your personal information, including your name, address, and account number.
4. Identify the primary beneficiary by providing their name, relationship to you, and contact information.
5. If desired, designate secondary beneficiaries, providing the same details as for the primary beneficiary.
6. Indicate the percentage of assets each beneficiary should receive, ensuring that the total equals 100%.
7. Review the completed form for accuracy and completeness.
8. Sign and date the form as required.
9. Submit the form as directed by your financial institution or insurance provider, keeping a copy for your records.

Who needs Beneficiary Designation Form?

1. Individuals who have life insurance policies.
2. People with retirement accounts, such as IRAs or 401(k)s.
3. Holders of bank accounts with transfer-on-death (TOD) designations.
4. Owners of investment accounts that allow for beneficiary designations.
5. Anyone who wants to ensure their assets are distributed according to their wishes after death.

People Also Ask about

What is an example of beneficiary designation?

For example, if you name your three cousins as your primary beneficiaries, you can name the children of each cousin as alternate primary beneficiaries. Then, if one cousin dies before you do, their share will be divided between their children who are named as alternate primary beneficiaries.

What is an SF 2823 form for?

Abstract: Standard Form 2823 is used by any Federal employee or retiree covered by the Federal Employees' Group Life Insurance (FEGLI) Program, or an assignee who owns an insured's coverage, to instruct the Office of Federal Employees' Group Life Insurance how to distribute the proceeds of the FEGLI coverage when the

What are beneficiary designations examples?

What is beneficiary designation? Surviving spouse. Child under the age of 18. Individual with a disability. Individual who is chronically ill. Individual within 10 years of age of the deceased.

What is standard beneficiary designation?

Any of the following individuals are considered an eligible designated beneficiary (EDB): a surviving spouse, a disabled or chronically ill individual, an individual who is not more than 10 years younger than the IRA owner, or a child of the IRA owner who has not reached the age of majority.

Who is considered a designated beneficiary?

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. Life insurance policies. Qualified retirement plans, including any 401(k), 403(b) and pensions.

What is dd form 2894 used for?

PRINCIPAL PURPOSE(S): This form is used to determine the beneficiaries of a deceased military retiree for entitlement of unpaid retired pay.

For pdfFiller’s FAQs

What is Beneficiary Designation Form?

A Beneficiary Designation Form is a legal document used to designate an individual or entity to receive benefits, assets, or funds from a financial account or insurance policy upon the death of the account holder or policyholder.

Who is required to file Beneficiary Designation Form?

Individuals who own a financial account, retirement plan, or insurance policy where they wish to designate a beneficiary are required to file a Beneficiary Designation Form.

How to fill out Beneficiary Designation Form?

To fill out a Beneficiary Designation Form, individuals need to provide their personal information, the full names and contact details of the chosen beneficiaries, and specify the percentage of benefits each beneficiary will receive.

What is the purpose of Beneficiary Designation Form?

The purpose of the Beneficiary Designation Form is to ensure that an account holder's assets are distributed according to their wishes upon death, avoiding probate and making the transfer process smoother for beneficiaries.

What information must be reported on Beneficiary Designation Form?

The information that must be reported on a Beneficiary Designation Form includes the account holder's details, beneficiary names, relationship to the account holder, contacts, and the allocation of benefits among the beneficiaries.