Get How To Write A Beneficiary Designation Letter

Percentages for each category must total 100% and must be whole numbers, such as 33%, not 33.33% or 1/3. If you do not indicate a percentage, the benefit will be evenly divided. Only complete section if you are naming a trust as your beneficiary.

You should choose someone who would benefit the most from the money. Most people can't choose just one person as their life insurance beneficiary, so they select multiple people to divide the death benefit.

spouse, partner, children, parents, brothers and sisters, business partner, key employee, trust and charitable organization.

Write only one beneficiary on each line. Make sure that you write the full names of all beneficiaries. For example, if you name you children as beneficiaries, DO NOT merely write “children” on one of the lines; instead write the full names of each of your children on separate lines.

spouse, partner, children, parents, brothers and sisters, business partner, key employee, trust and charitable organization.

Beneficiary designations allow you to transfer assets directly to individuals, regardless of the terms of your will. Beneficiary designations are often made when a financial account, retirement account, or life insurance policy is established.

Most beneficiary designations will require you to provide a person's full legal name and their relationship to you (spouse, child, mother, etc.). Some beneficiary designations also include information like mailing address, email, phone number, date of birth and Social Security number.

Provide the following information on the beneficiary designation: The full name of the trust as it shows on the trust document. The date the trust was created. The name of the trustee, followed by the word “trustee,” or if you cannot provide a trustee, ETF may accept another contact person. The trustee's address.