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Clear Form MEMBER/RETIREE/PARTICIPANT BENEFICIARY DESIGNATION PO Box 48380 Olympia, WA 98504-8380 w www.drs.wa.gov Toll Free: 800.547.6657 w Olympia Area: 360.664.7000 w TTY: 360.586.5450 Important:

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How to fill out beneficiary designation - seattle

How to fill out beneficiary designation - Seattle:

01

Obtain the necessary forms: Start by contacting the appropriate entity, such as your employer, insurance company, or financial institution, to request the beneficiary designation forms specific to Seattle. They may have their own unique forms or require specific information to be included.

02

Provide personal information: Begin by filling out your personal information accurately. This may include your full name, social security number, birth date, and contact details. Make sure to double-check the accuracy of the information provided.

03

Designate primary beneficiaries: Indicate the primary beneficiaries who will receive the benefits in the event of your passing. This can include individuals or organizations. Provide their full names, relationship to you, and their contact details.

04

Specify contingent beneficiaries: In case the primary beneficiaries are unable to receive the benefits, it is essential to designate contingent beneficiaries. These individuals or organizations would only receive the benefits if the primary beneficiaries are unable to do so. Include their full names, relationship to you, and their contact details.

05

Determine the percentage allocation: If you have multiple beneficiaries, it is crucial to allocate the benefits among them. Decide the percentage or specific amounts each beneficiary will receive and clearly indicate it on the form.

06

Review and sign the form: Once you have completed all the required information, carefully review the form to ensure its accuracy and completeness. Sign the form following the designated instructions and obtain any necessary witness signatures, if required.

07

Submit the form: After completing and signing the beneficiary designation form, submit it to the appropriate entity. Follow any specific instructions provided, such as submitting it online, mailing it, or hand-delivering it. Retain a copy of the form for your records.

Who needs beneficiary designation - Seattle?

01

Employees with retirement accounts: If you have a retirement account through your employer, such as a 401(k) or pension plan, it is advisable to fill out a beneficiary designation form. This ensures that your designated beneficiaries will receive the benefits in the event of your passing.

02

Life insurance policyholders: Individuals who have life insurance policies should also complete a beneficiary designation form. This ensures that the benefits will be distributed according to your wishes and designated beneficiaries upon your death.

03

Individuals with financial investments: If you have investment accounts, such as stocks, bonds, or mutual funds, it is crucial to designate beneficiaries. This will protect the value of your investments and ensure that they are passed on to the right individuals or organizations upon your death.

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