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Complete this form on your screen, then print, sign, and mail it to the YMCA Retirement Fund. DESIGNATION OF BENEFICIARY FOR YMCA EMPLOYEES This beneficiary designation is for the Pre-Retirement Death

How to fill out designation of beneficiary for

How to Fill Out Designation of Beneficiary for:

1. Begin by obtaining the designated form for the specific asset or account that requires a beneficiary designation. This could include retirement accounts, life insurance policies, or investment accounts.
2. Clearly identify the primary beneficiary, who will be the first person to receive the assets in the event of your passing. Provide their full legal name, relationship to you, and their contact information.
3. If desired, you can also designate a contingent beneficiary. This individual will receive the assets if the primary beneficiary is unable to receive them. Include their full legal name, relationship to you, and contact information.
4. Review the specific instructions on the form regarding alternative beneficiary designations or special conditions. For example, if you want to split the assets between multiple beneficiaries or designate specific percentages, ensure that the form allows for such options.
5. Carefully read and understand any additional provisions, requirements, or limitations listed on the form. This may include restrictions on the type of beneficiaries allowed or any conditions that must be met for the assets to be distributed.

Who needs designation of beneficiary for:

1. Individuals with retirement accounts – It is essential to designate a beneficiary for retirement accounts, such as a 401(k) or IRA, as it allows for a smooth transfer of assets to your chosen recipient upon your demise.
2. Life insurance policyholders – Designating a beneficiary for your life insurance policy ensures that the proceeds go directly to the designated person, bypassing the probate process.
3. Owners of investment accounts – Investment accounts, such as brokerage or mutual fund accounts, often require a beneficiary designation to establish who will inherit the assets.

In summary, to fill out a designation of beneficiary form, carefully provide the required information, consider a primary and contingent beneficiary if needed, and review any specific instructions or provisions outlined on the form. This process is essential for individuals with retirement accounts, life insurance policies, and investment accounts in order to ensure a smooth transfer of assets to their chosen beneficiaries.

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