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BENEFICIARY DESIGNATION ADDENDUM A beneficiary is a designated individual or entity that will inherit the assets in your Oregonians account. This form can only be used to name additional beneficiaries

How to fill out beneficiary designation addendum

How to fill out beneficiary designation addendum

1. To fill out the beneficiary designation addendum, follow these steps:
2. Read the instructions carefully to understand the requirements and purpose of the addendum.
3. Provide your personal information, including your full name, address, and contact details.
4. Identify the primary beneficiary by providing their full name, relationship to you, and their contact information.
5. Optionally, you can designate contingent beneficiaries. Make sure to include their full names, relationship to you, and their contact details.
6. Specify the percentage or portion of your assets that each beneficiary should receive upon your death.
7. Review the completed addendum for accuracy and completeness.
8. Sign and date the addendum to make it legally binding.
9. Keep a copy of the filled-out addendum for your records.
10. Remember to consult with a legal professional or a financial advisor if you have any doubts or complex beneficiary arrangements.

Who needs beneficiary designation addendum?

1. Anyone who has assets and wishes to designate beneficiaries to receive those assets upon their death needs a beneficiary designation addendum.
2. Common examples of individuals who may need a beneficiary designation addendum include:
3. - Individuals with life insurance policies
4. - Retirement account holders, such as those with 401(k)s or IRAs
5. - Trust creators
6. - People with payable-on-death (POD) bank accounts
7. - Those who want to designate specific individuals or charities to receive their assets.
8. It is recommended to consult with a legal professional to ensure compliance with applicable laws and to address your specific circumstances.

For pdfFiller’s FAQs

What is beneficiary designation addendum?

Beneficiary designation addendum is a legal document that allows an account holder to designate or update beneficiaries for their accounts or assets in case of their death.

Who is required to file beneficiary designation addendum?

Any account holder or individual who wants to designate beneficiaries for their assets or accounts is required to file a beneficiary designation addendum.

How to fill out beneficiary designation addendum?

To fill out a beneficiary designation addendum, the account holder must provide their personal information, the beneficiaries' information, and details of the assets or accounts being designated.

What is the purpose of beneficiary designation addendum?

The purpose of beneficiary designation addendum is to ensure that the account holder's assets or accounts are transferred to the designated beneficiaries upon their death.

What information must be reported on beneficiary designation addendum?

The beneficiary designation addendum must include the account holder's personal information, the beneficiaries' information, and details of the assets or accounts being designated.

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