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Please send completed form to: BENEFICIARY DESIGNATION OR CHANGE FORM Colorado National Bank C/O Retirement Plan Division 700 17th Street, Suite 2400 Denver, CO 80202 Phone: (720) 409-4450 Please

How to fill out beneficiary designation or change

How to fill out beneficiary designation or change:

1. Start by obtaining the necessary forms: You will need to contact the relevant institution, such as your insurance provider or retirement account administrator, to request the beneficiary designation or change forms. They will provide you with the required paperwork.
2. Read the instructions carefully: Before filling out the forms, take the time to read through the instructions provided. Understanding the requirements and guidelines will help ensure that you complete the process correctly.
3. Provide your personal information: Begin by entering your personal details, such as your full name, date of birth, and social security number. This information helps identify you as the account owner or policyholder.
4. Specify the account or policy: Indicate the specific account or policy for which you are making the beneficiary designation or change. Include any relevant account numbers or policy references to ensure accuracy.
5. Determine primary and contingent beneficiaries: Designate who will be the primary beneficiary – the person or organization who will receive the assets or benefits after your passing. You may also need to name contingent beneficiaries, who will inherit the assets or benefits in the event that the primary beneficiary predeceases you.
6. Provide beneficiary information: Fill in the required details for each beneficiary, such as their full name, relationship to you, date of birth, and contact information. Make sure to double-check this information for accuracy.
7. Specify the percentage or allocation: If you have multiple beneficiaries, you may need to assign a percentage or specify how the assets or benefits will be divided among them. This can be in equal shares or allocated based on specific instructions.
8. Sign and date the form: Once you have completed all the necessary sections, sign and date the beneficiary designation or change form. Some forms may require witnesses or a notary to validate the document, so make sure to follow any additional requirements provided.

Who needs beneficiary designation or change:

1. Individuals with life insurance policies: Whether you have a term life insurance policy or a whole life insurance policy, it is crucial to designate beneficiaries to ensure that the death benefit is distributed according to your wishes.
2. Retirement account holders: If you have a 401(k), IRA, or other types of retirement accounts, designating beneficiaries is essential. This ensures that your account will pass on to the intended recipients after your passing.
3. Account holders with payable-on-death accounts: Some financial institutions offer payable-on-death accounts, which allow you to designate a beneficiary who will inherit the account's funds without the need for probate.
4. People who wish to update their beneficiaries: Life circumstances change over time, and you may need to update your beneficiaries due to various reasons like marriage, divorce, birth of a child, or the passing of a loved one. Keeping your beneficiary designations up-to-date ensures that your assets go to the rightful recipients.

Remember, it is always wise to consult with legal or financial professionals when completing beneficiary designation or change forms to ensure compliance with applicable laws and regulations.

For pdfFiller’s FAQs

What is beneficiary designation or change?

Beneficiary designation or change is a document that allows an individual to specify who will receive certain assets or benefits in the event of their death.

Who is required to file beneficiary designation or change?

Any individual who has assets or benefits that are subject to designation can file beneficiary designation or change.

How to fill out beneficiary designation or change?

To fill out beneficiary designation or change, one must provide the required information such as the name of the beneficiary, their relationship to the individual, and the percentage of assets they will receive.

What is the purpose of beneficiary designation or change?

The purpose of beneficiary designation or change is to ensure that the designated individuals receive the intended assets or benefits upon the individual's death.

What information must be reported on beneficiary designation or change?

The information that must be reported on beneficiary designation or change includes the name of the beneficiary, their relationship to the individual, and the percentage of assets they will receive.

How do I modify my beneficiary designation or change in Gmail?

beneficiary designation or change and other documents can be changed, filled out, and signed right in your Gmail inbox. You can use pdfFiller's add-on to do this, as well as other things. When you go to Google Workspace, you can find pdfFiller for Gmail. You should use the time you spend dealing with your documents and eSignatures for more important things, like going to the gym or going to the dentist.

How do I edit beneficiary designation or change straight from my smartphone?

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How do I fill out the beneficiary designation or change form on my smartphone?

Use the pdfFiller mobile app to complete and sign beneficiary designation or change on your mobile device. Visit our web page (https://edit-pdf-ios-android.pdffiller.com/) to learn more about our mobile applications, the capabilities you’ll have access to, and the steps to take to get up and running.