Get the free Designation of Beneficiary - University of Hawaii at Manoa

STATE OF HAWAII EMPLOYEE S DESIGNATION OF BENEFICIARY PURSUANT TO SECTION 78-23 c OF THE HAWAII REV9ISED STATUTES TO THE COMPTROLLER STATE OF HAWAII Pursuant to the provisions of Section 78-23 c of the Hawaii Revised Statutes the undersigned employee of the State of Hawaii hereby designates the person or persons who if living at the employee s death shall share equally unless specifically indicated otherwise in writing hereon noted below as his or her beneficiary or beneficiaries to whom...

How to fill out designation of beneficiary

How to fill out designation of beneficiary

1. Collect the necessary information: You will need the full name, address, and contact details of the beneficiary you want to designate.
2. Obtain the appropriate forms: Contact the relevant institution or organization that requires the beneficiary designation information. They will provide you with the necessary forms to fill out.
3. Provide personal information: Fill out your own personal information, including your full name, address, and contact details.
4. Specify the relationship: Indicate your relationship with the beneficiary, such as spouse, child, sibling, or friend.
5. Provide beneficiary details: Enter the full name, address, and contact details of the designated beneficiary.
6. Specify percentage or amount: Decide how you want to allocate the benefits to the beneficiary. You can either specify a percentage (e.g., 50% of the benefits) or a specific amount (e.g., $10,000).
7. Review and sign: Double-check all the information you have provided and sign the form as required.
8. Submit the form: Return the completed form to the institution or organization that requested the beneficiary designation. Follow their instructions for submission.

Who needs designation of beneficiary?

1. Anyone with assets or investments: Individuals who have assets, investments, or insurance policies may need to designate beneficiaries to ensure that their benefits or proceeds are distributed according to their wishes.
2. Retirement plan participants: People who have retirement plans, such as 401(k)s or IRAs, need to designate beneficiaries to determine who will receive the remaining funds in those accounts after their passing.
3. Life insurance policyholders: Policyholders often need to designate beneficiaries who will receive the insurance proceeds upon their death.
4. Will or estate owners: Those who have a will or an estate plan need to designate beneficiaries to inherit their properties or assets after they pass away.
5. Trust creators: Individuals who create trusts must designate beneficiaries who will receive the trust's assets and benefits in accordance with the trust agreement.
6. Employer benefit program participants: Employees who participate in employer benefit programs, such as life insurance or retirement plans, may need to designate beneficiaries to determine who will receive the associated benefits in the event of their death.

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What is designation of beneficiary?

A designation of beneficiary is a form that allows an individual to specify who will receive the benefits of a certain policy or account in the event of their death.

Who is required to file designation of beneficiary?

The policy or account holder is typically required to file a designation of beneficiary form.

How to fill out designation of beneficiary?

To fill out a designation of beneficiary form, the individual must provide their personal information, the beneficiary's information, and details of the policy or account.

What is the purpose of designation of beneficiary?

The purpose of designation of beneficiary is to ensure that the benefits of a policy or account are distributed according to the individual's wishes upon their death.

What information must be reported on designation of beneficiary?

The designation of beneficiary form typically includes information such as the policy or account holder's name, beneficiary's name and relationship, and contact information.