Get the free Bene? ciary Designa on Form

Been?diary Design on Form Please mail or fax completed forms to: Address: HealthEquity, A n: Member Services 15 W Scenic Point Dr, Ste 100 Draper, UT 84020 Fax: 801.727.1005 Complete this informs

How to fill out bene ciary designa on

How to fill out beneficiary designation:

1. Start by obtaining the beneficiary designation form, which can typically be obtained from the financial institution or insurance company where you hold the account or policy.
2. Fill in your personal information accurately, including your full name, address, date of birth, and contact information. This will ensure that the designated beneficiary can be easily notified in the future.
3. Indicate the type of account or policy for which you are designating a beneficiary. This could be a retirement account, life insurance policy, or other financial instrument.
4. Clearly state the full name of the designated beneficiary. It is important to provide the beneficiary's legal name to avoid any confusion or potential disputes later on.
5. Include the beneficiary's relationship to you, such as spouse, child, sibling, or friend. This information helps establish the beneficiary's eligibility and ensures that the assets will be distributed correctly.
6. If you have multiple beneficiaries, specify the percentage or portion of assets that should go to each beneficiary. This distribution can be equal or customized based on your wishes.
7. Review the beneficiary designation form thoroughly before submitting it. Ensure that all fields are filled out accurately and that there are no missing or conflicting information.
8. Sign and date the form in the designated areas. Some forms may also require a witness or notary signature, so make sure to comply with any additional requirements.

Who needs beneficiary designation?

1. Individuals with retirement accounts, such as 401(k)s or IRAs, should consider designating beneficiaries to ensure a smooth transfer of assets upon their passing.
2. People who have life insurance policies or annuities should also complete beneficiary designations to specify who will receive the death benefit or payout.
3. Those with investment accounts, such as brokerage or savings accounts, may want to designate beneficiaries to facilitate the transfer of assets without going through probate.
4. Any individual who wishes to ensure that their assets are distributed according to their wishes and to avoid any potential conflicts among family members or loved ones should consider completing a beneficiary designation.

Remember, beneficiary designations are essential for properly transferring assets and ensuring they go to the intended recipients. Regularly review and update your beneficiary designations to reflect any major life changes, such as marriages, divorces, births, or deaths in the family.

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What is beneficiary designation?

Beneficiary designation is the process of specifying who will receive the benefits of a financial account or insurance policy after the account holder or policyholder passes away.

Who is required to file beneficiary designation?

Anyone who has a financial account or insurance policy with a designated beneficiary option is required to file beneficiary designation.

How to fill out beneficiary designation?

Beneficiary designation forms can typically be filled out online, through the financial institution or insurance company's website, or by requesting a paper form from the institution.

What is the purpose of beneficiary designation?

The purpose of beneficiary designation is to ensure that the assets or benefits from the account or policy are distributed according to the account holder or policyholder's wishes after their death.

What information must be reported on beneficiary designation?

Typically, beneficiary designation forms require the beneficiary's full name, date of birth, relationship to the account holder or policyholder, and their contact information.